Mike, perhaps there's a bit of "sell the news" going on. Unfortunately for me this time with Adobe, I got out around 43, & decided not to get back in at 38 - oh well! If I had held, I would have done as Peter suggested & got out aournd 52, hoping to get in again lower. Before today's open, Adobe left 3 unfilled gapped-up openings in about 9 days. I'm also wondering a bit about how the street's going to respond to getting burned by Adobe's pre-earnings increase announcement - I feel the big money will absolutley not buy in at these levels & will use some serious cash to create a buying opportunity for them. This is just my opinion, not suggesting what you should do - I still believe Adobe's an excellent company that will have its day. I got burned a couple times by being "too early" in a good stock, having its price punished to create buying opps once they were acknowledged as a good stocks. So far in my recent experience, the only tech that's gone straight up for almost a year without a break for some big buying is PHG (Philips Electronics/ie DVD). That stock ignored missing earnings more than once, and ALL global market corrections this year. Amazing. Maybe Adobe's about to become amazing, wish I knew.
Good luck all,
Tom |
