Kman, I wonder how many buyers from the IPO or initial run are actually left in the stock. There may be some still around who bought in the teens on the way down, but if they averaged down, they could have gotten out at a profit on a few occasions over the last 10 months. I know because I bought some from $14 down to $6 and change for an average of $10. I sold that, bought it back between $8 and $9 and sold it again this winter/spring for nice profits both times. I still hold my long-term position, though, and if Perklaw's comments are even remotely close to reality (and I know him to NOT be a hypster), I see no reason to even consider selling in the teens. Probably not $30 either, unless it gets there this week <VBG>. Seriously, though I'd like to see the details they presented to the analysts and our friend Perklaw, I intend to just hold on for a steady climb over a few years.
If the mo mo idiots, OTOH, jump on it and give us "amazonian" gains in the near term, I might take some off the table in hopes of buying it back cheaper when they depart. The visibility of this company is not like that of the Internet high flyers, so if it does take a momentum driven run (like after the IPO) to questionable valuations, it's less likely to hold that valuation indefinitely like AOL, YHOO or others.
Short of a gift from mo mo, it will retain a long-term position in my portfolio. Patience, as we have said here before, will be rewarded.
Regards,
Bob |
