Elliot,
It looks like that breakout is happening. Good, it is about time. There was another big press release out today, but for some reason I could not get it on Yahoo. I got it on our Bloomberg at work. Needless to say, we just hooked up with yet ANOTHER big industry leader.
I don't have any exit target for taking some profit. I look at this company, and I see the alliances they have created in the last year or so (Oracle, etc.), and I think they will just keep going, and going, and going....like the Energizer Bunny. But seriously, they have a great management team, and I'd be hard pressed to find one in which I have more confidence. Many of these alliances, including the one announced today, will not really even hit the bottom line with full force for a year or two. It is not outrageous to think this thing could be at $50-60 inside two years. If so, I have gotten a great return, and did it in a company in which I think have less risk, as I know them better than anybody else I follow. Many of us have followed them closely for a few years now, and really have the kind of gut feel for this company that we don't get from any other (Remember when Compaq hit expectations and got nailed?). So I don't really have an exit point. I might, MIGHT lighten my load up around $40, and I have a lot of confidence that it will get there. And maybe I won't sell. It will depend upon the news coming out, the feel I have for it at the time, and the chart action. I can ride the swings, as I strongly feel that the core trend will take it considerably higher over the next couple of years. I'm not normally a buy/hold kind of person, but I am with this one. I know too many people who tried to outsmart this thing, selling at $7, $11, etc., and now sit back and look with supreme jealousy as the rest of us make a lot of money.
High high do you think this breakout can take it in the short run?
Mike |
