Texas_Hillman
Apr 15 1998
11:56PM EDT
Hello,
I am enjoying today's run up. If we hold tomorrow above $26, then we may regard the breakout as having occurred, as
predicted a few weeks ago (to the day).
What I think will happen next is this: the stock will hold above the $26 level the next two days, confirming the breakout. It may drift near $26, it may stay level, or it may leap up more. I think that latter since the huge volume suggests it. More on volume later. The next critical point is $29/30 level, it is a resistance point. It is also important for our friend with April 30 options (VQXDF).
Can it double? Sure, when it doubles 3 times, it will be a $5B company. There sure are a lot of those, aren't there? I see MRVC being at that level in a few years, or a part of CSCO or LU.
Several seemed to pull the trigger and sell. No criticism here! It is money in the bank, and peace of mind. However, this bull is *running* and this stock has been caught up in it. Earnings is still 1.5 weeks away, and things are happening. The volume says that we should watch the news closely.
Finally, there have been several posts to the effect: "MRVC always leaps before earnings and then drops" so sell before the news. Such a general perception makes me want to hold it through earnings and beyond even more strongly. MRVC is LONG overdue for a sustained reversal relative to the market. Look for earnings estimates to be handily beaten, and $35 by June sometime. As before!
Yours,
Tex
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(From the Yahoo thread) |
