Walt,
Are you related to Steve Balmer? <ggg>
Anyway, here are a few more thoughts (not that you solicited them):
1) Do I think this market is crazy - yes!
2) Do I think there are many extremely overvalued NASD stocks - yes!
3) Do I think there will be a correction - yes, it may have just started
4) Am I setting up my potfolio defensively - yes, I just bought a bank stock for the first time in about 3 years!
5) Can I time the market - not very well.
6) How about the valuation of NETP - it may go to $80 before it goes back to $55, or it may go to $25 before it goes to $80, who knows?
Again, the old adage is very important "the trend is your friend" I have sold too many great stocks way too early this year and NETP IMHO does have great potential. A sampling of my early sells:
BVSN bought at $10 - $13, sold at $40 - $46, now $275
MSTR bought at $16 - $18, sold at $24, now $125
GCTI bought at $16 - $20, sold at $23, now $51
ARTG bought at $10 - $14, sold at $20, now $63
SEGU bought at $4 - $6, sold at $9, now $23
EXAP bought at $21 - $22, sold at $23, now $60
INFA bought at $22, sold at $26, now $72
And these are only in the last 6-9 months with many thousands of shares (that's probably why I sold so early)!
The point is I am heavy into NETP (I told you how much) and I think these guys have a chance at seeing what I would call an extreme valuation for their stock.
Everyone has to play the game the way they see it. I can understand your conservatism, however, if you go back and review your posts from yesterday afternoon I think you will see that you were doing more than advising a little caution.
Good Trading!
PS: Look at CIRC. Interesting for the price. Compare to Razorfish, Scient and Agency.com (ACOM) which is coming public this week and will be "Red Hot". |
