Johnny & Donny -
So I will disappear, eh? Good call.
Ok... so both of you are now short at 25, correct? (Assuming you didnt short before today's close... after all, we wouldn't want to make our brilliant claims with the benefit of hindsight, now would we?) If you are not short now at 25, say so ASAP... otherwise I will come back later to reference this post as evidence you must have.
Regarding your claim that "buy and hold doesnt work anymore". That is absurd. I purchased Overture over two years ago in the low teens, and despite the huge market drop since then, I have more than doubled my investment. Along the way I have leveraged with calls during periods where I have felt that Overture was undervalued. Most of the time, those moves were extremely profitable. As I stated a few days ago, I currently do not hold any options. However... if Overture trades below 26 when the market opens today, I will be buying some calls. Why? Read on...
The earnings were, once again, incredible. Revenue per click increased, total revenues increased, and profits increased. All at substantial rates too. Guidance for 2004 was raised and the fact that it remained stable for 2003 because of increased costs is not a horrible thing. It just shows that growth is likely to slow - not stop. I stand by my prediction that Google will continue to take a backseat and that Overture will hit 35+ by next summer. Johnny, I know you have balls (unlike Donny who was scared to post his prediction for 6/03)... what is your guess for this stock by next summer? |
