Larry, I think that ADPT is extremely attractive at these sub 17' prices. Slob believes it could reach a "ridiculosly " low price in the mid 15', and few on the thread (probably those that said it will never breach 20 <G>) have now set new targets in the 10-11 area, which in my opinion would be "ludicrously" low price. However, I would not say categorically, "NO", and this since it will not be the first time I have seen stock priced at ludicrous levels. The markets are manic/depressive, they get to ridiculously high prices (YHOO, AMZN and I will not mention fly by nights such as KTEL and AND from the past), and then they also priced MRK at 29 during the height of Hilary's attacks on the pharmaceuticals, and CCI at 10 during the fears of the "latin exposure" and few other doosies. So, 10, unlikely, but not impossible. Right now, I would say ADPT is going on my "watch closely" list. I am waiting for some "irrational inexuberance" or fear to evolve, but it surely is extremely tempting.
As for my "watch closely list", I must say it has not been successful in the last few months, I had two oil P&E on that list and they went through the expected "irrational fear" wringer and they are still lingering at the same irrational low levels <VBG>.
Zeev |
