<<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>>
There *may* be a correction, but you're gonna have a hard time knocking these stocks down when everyone is waiting to get in. Consider that the largest mutual funds haven't really begun buying these stocks yet. Every now and then I worry about speculative fervor and I take money off the table, but I really don't see a bear market in this sort of tech in the near term. As far as AMZN is concerned, I wouldn't be looking at magazine covers as a contrarian indicator, rather, i would take a look at the swarms of short-sellers and naysayers that have been complainng about Amazon from day one (with perfectly reasonable arguments) and yet the stock inexorably marches on and the business continues to grow like a weed. I wouldn't be surprised to see AMZN double again.
<<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>>
I have complete faith that Valence management will ultimately validate the wisdom of my short position. |
