Hi BM, "Why Take profits when a long way to 2000"?
I think the answer is that a lot of people must have made 2x or 3x over the past few weeks and are quite happy to take that, or at least lock in and then buy back after a dip.
Looking back through this thread, several folks have said they will accumulate on dips and sell on peaks, so I guess if you put the two together, then its explainable.
Its also interesting that the volume over the last few days has been down. Are prices more volatile at low volume? IMHO, 20 seems to be a low point at the moment, so that would be a good point to buy, however 25 also seems to be the high point as well, FRX has peaked 2 or 3 times around 25, and personally I doubt will rise above this until there is some more positive news from Forecross.
I am not good (understatement) at judging these peaks and troughs though (If I was, I'd have been making a fortune on MU over the last 18 months), so I'm content to buy and then hold for the long term. I'm still expecting Year2000 concern to boom (term chosen carefully) over the next year or so, there are still many companies who havent really started on Y2000, and many more who are in the early stages, analysing but not doing.
All of a sudden, a lot of people are going to "wake up and smell the coffee", I'll probably sell after that. I'm unsure what will happen to Y2000 companies post mid-1999. (Even if their prospects are ok, that may not be the market sentiment, which is what counts)
Regards
Joe |
