Bill, you might be right about PSWF, but I think that we are running out of time for very strong bullish moves here. Not only we have come a long way since October 15th, but the drivers of the NAZ rally was the e-commerce thing and the SOX. I fear that the e-commerce "thing" is due for a very strong correction, particularly the e-tailers (and I realize that PFSW is a B2B thing, but it will be treated like the rest of the e-tailers). My reasoning for this is that the rise was in anticipation of a strong holiday season, for the e-tailers, this is now over, the current prices already assume the best has happened. I believe for instance that AMZN is in the process of putting up a double top in the $100 to $110 area and will revisit the 60' within six months. The cover of the time, is often the death nail in an issue like that, now, who does not know how good AMZN is? Under such a scenario, I would be careful with PFSW for the next month or two. Sure, we may have another two to four weeks follow through on this fantastic rally, but the seeds of its demise are now in place, IMHO.
Zeev
PS, careful with VLNC, currently we are on opposing sides on this issue. I am looking at taking another profit here at the $21/$22 area if I see no further attempts at breaking to new highs, and continuation of the current churning, but the stock is still bullish, at least as long as it is holding above $17.25 on a closing basis. |
