Ar,
You could see $1.25/sh. on this pullback, and be advised that this stock is in a negative trend and yet to turn around. The company isn't going out of business so you should make money in the long run.
The strength of this current rally was impressive, but I question whether it is a continuation of the 'bull market'. The S&P 500 made a new high on Thursday (1/29/98), but this was not confirmed by the Dow 30. Confirmation can only occur when this popular average exceeds 8,299 its August 7, 1997 high.
Many will argue that a bull market climbs a wall of worry, and we certainly have a lot to worry about with Asia, the White House Scandal, and the potential war with Iraq. This was an impressive rally, but the Dow finished down 2 points from Decembers close. In addition the advance was narrow at best, and lacked leadership.
So until I see the August highs re tested, I'll remain in the 'Bear' camp.
Good luck on your LCAV buy, don't be greedy take profits when can.
Harry |
