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Strategies & Market Trends : The Rational Analyst

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To: The Perfect Hedge who wrote (685)4/20/1998 6:57:00 PM
From: HeyRainier  Read Replies (2) of 1720
 
[ SNRS ]

Emotion aside, however, I would not initiate a long position at these levels given the risk/reward characteristics in the near term. Euphoria has a way of turning quickly once the first sign of retreat becomes evident. The Silicon Investor and Yahoo! SNRS threads are in an extreme state of, shall we say...pleasure from the recent developments from a variety of angles (S&P reports, anticipation of FDA approvals as of this year, stock doubling every two months, etc.)...and I don't blame them. I feel the same way.

I've taken my 48% from 7 trading days to the bank for the next fastball down the middle. And if SNRS dips and shows a nice entry point, then I might find myself again with the wonderful crowd of winners over at the SNRS thread.

Regards,

Rainier

PS. I will be twirling my thumbs as I look at this chart further. The trend is certainly accelerating.
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