<great buying opportunity>
I don't know, I'm still going to short those pigs on the way down.
Until those YHOO's start defending their own stock... geez, they could at least come up with a press release or something... or spend some loose change, a few Billion, to buy someone & get the investors excited again <g>...
And look at EBAY - those whiners blamed their down-time on SUNW! (and, missing their earnings, within 24 hours of the event).
Which makes them... multibillionare 'finger-pointers'!
I've done well going long on these things at times - but see them as nothing but trading vehicles. No allegiance to the companies AT ALL.
If there stock is performing, fine, I'm long. If not, I'm flat or short.
It's well known that even their own founders have been selling (& hedging) the shares massively, in April and May... so I guess the current longs believe in these stocks more than them. These stocks have run up way too far, after all they're primarily a bunch of software YHOO's, not really proven businesses over much time. There is an extremely good argument that these companies are over-valued (I don't buy the extremist arguments, but the P/E's are just WAY too huge...)
Not a YHOO/EBAY/net loyalist I guess ;) If they turn around, I'll get long... just pointing out your faith may not be well-placed...
-Steve |
