If you really think internet stocks are a "flight to quality," then there are some folks on this thread that are less experienced then I thought, and believe me, my expectations were not that high.
YHOO, AMZN, and the like are MOMENTUM PLAYS. In fact, they are classic momentum plays. There is not a professional trader/analyst out there who really thinks YHOO is worth this much money. They are in for the ride. For a lesson on this see Iomega, and play close attention to the chart line. Increasing slope to straight up and then straight vertical drop.
Momentum investing is a game of chicken. Push it a little further, hang on a little longer and then see ya later, take the money and don't look back. they thing is that professional momentum traders know when to go, and I think that time is real soon, so I got in the game (on the short side). II's don't know when to get out, they get burned. Or more likely in this case don't reap the full reward, which is right now. |
