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Biotech / Medical : Theragenics (TGX) on the up and up
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To: Stephen M. DeMoss who wrote (765)3/22/1998 10:35:00 PM
From: Mikey  Read Replies (1) of 1055
 
I agree that it could be overvalued, but this is an overall market mania that we are experiencing and it might become a lot more overvalued. I have heard a lot of different numbers from the media for PE's in the '29 crash, but the one I have heard that I believe is 57! We could double before reaching that! Nations around the globe are printing fiat money like crazy and throwing it at the US markets. For now.

One thing I have noticed about the Nasdaq is the significance of it's 50-day moving average. Also, the index seems the last three cycles to have trended upward for 5 - 5 1/2 months. This time that would put us at the end of June, which matches well with whatever in the world is going to happen with the Euro. It's hard to imagine how high the Dow and S&P will be three months from now at this rate, but you never know...the cycle could always be broken.

I still have my THRX calls. I will probably sell some if it gets to 68 on Monday. But I might not. Again, I don't see a sell indicator yet and I currently believe that the Nasdaq will trend up until June. That opinion could change at any time. I would hate to sell out only to see THRX rise to 80 though! If the Nasdaq does indeed move up for three more months, I would have a hard time thinking that THRX (which has been one of the leaders in terms of relative strength) would not go along for the ride.

M.
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