WALK...is it ready for blast off
By: SirFye
Reply To: 771 by montekern2
Saturday, 8 Jan 2000 at 1:27 PM EST
Post # of 777
Don't be jealous: I know you made a buy just above 7, I filled in half my position above
there, with a last buy above 8, on margin--so you can imagine how jazzed I was by the
late-day action. I'm also rather surprised by myself: Don't use margin much, and my
reading of the market as a whole wasn't that we're starting a new bull. I think your
reasoning on the stock has been sound all along, and I'm glad I staked my first position
before I had wasted time (and money) just sitting and watching.
As for the interview with Mr. Lord: He sounded like a smart man with a clear plan. To
me, he seemed like he was even lowering near-term expectations a little--pointing out,
for instance, that they're a couple of quarters of execution away from profitability or that
the university deal is more a demonstration than a revenue generator. What I liked best
was his confidence about having a Best of Breed company with a position in exactly
the right place (web-enabled B2B).
As for whether to buy more, I think the price-volume action the last few days is about as
bullish as you could want: Strength in a down market, continued rises on above
average volume, confirmed by a leap on Friday amidst the larger tech comeback,
impossible without support gathering from big players. And even the fast movement
going into the weekend was steady--not a frenzied blow-off. I think it was just a lot of
people realizing that the train was leaving the station. Ideally, the stock would burst
through 9 1/2 (ca. old closing high), establish a new base above 10, then take off for a
good year or two at least, on the way to triple digits, stock-of-the-day appearances, and
numerous head-shaking "if you had only put your money in back on January 5..."
commentaries. Back on Earth, I agree with you that 14 is the near-term target, and that
a company like this in a sector like this can move at faster-than-light speed. I'll be glued
to my Streamer Monday morning, and may take another gamble the moment it goes
over 9 1/2 on heavy volume. |
