<<I cannot see in any way shape or form SUNW retreating below say $65 in the foreseeable future no matter how you slice and dice it>>
JDN. I generally agree (re above). In terms of market adjustments, I would say that any adjustment that lasts only a few days is not really an adjustment. If the Nasdaq Composite dropped 30% in one day, and three days later was back where it started, I would say we never really had a bear market.
It seems that many intelligent observers have already discounted another FMOC .25 increase in March, and have come close to believing that rates will be up a full percentage point for 2000 by early summer. With that as a backdrop, the Nasdaq Composite has rallied big-time since last Wednesday. There is danger in that - in my opinion.
Also SUNW has not, as yet, rallied back to the 85 I last sold it at on January 21, so I still have my 19 point gain in SUNW for January through my multiple trades (all in IRA accounts).
SUNW has an analyst conference starting tomorrow, and lasting into Wednesday, where, personally, I expect good news, and maybe a rally.
I am not sure I will push my luck by trading it again, however. I will think about it some more, and maybe buy some for a few days.
Ken Wilson |
