>>My fear now is that the two month pullback from mid April to mid June was not just a normal correction wringing out speculative excess, but rather the first in a series of pullbacks in a larger bear market for the sector - one in which valuations contract in order to eventually fall in line with other stocks, as measured by traditional metrics.
I share your fear. Let's see what happens going forward.
Look, I'm convinced as much as ever that the company and its stock is headed much higher. Along the way there will be interest-rate jitters, 50% declines (four already so far), over-exhuberence, seasonality, new product offerings, challenging e-commerce competitors (just not in books, CD's, videos, and toys!), perhaps further financings....Buy and hold.
HJ likes to kid me about that lot I bought @ $196. Today I bought a helluva lot more at $110, and sold an Amazon competitor to do it.
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