Night,
Be careful, it's a tough game. I remember salivating over shorting Spyglass and Netscape when they began going crazy after both went public. I watched Spyglass run from something like 14 right up to 60 or so. I shorted, the stock went down a bit and I got nervous, so I covered, then watched it go right to 90+/share. That would have (in retrospect) been the right time to short as it then went on a decline all the way back to 13. Point is, it is really hard to call the top, many are thinking the same way you are, so it could keep running for awhile. Hell, I think AOL and Yahoo will soon equal the market cap of CPQ, for heaven's sake!!! Read today that Bezos (founder of Amazon) is now worth 2.8 billion, and one of the Yahoo boys is also now a billionaire. I agree it's crazy, but it's a great example of the excesses markets can generate.
John |
