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Byron, last 2 years....I have said in similar situations, "Damn glad I'm not in that stock, who would buy that now?!"...only to look a month or two later at a double, triple, or more. The market always overreacts, both on the upside and the downside. Look at Netscape, Micron, Dell, Gateway, etc. etc. etc., the 12 month ranges will bogle your mind. The smart ones are the ones who bought GATE at 19, for example last spring, IOMG at 13, AMTX at 10, etc. etc. etc. This market is a great study of human emotions, and it is the emotions which create incredible opportunities for those who understand the underlying value of a companies assets...as well as the emotional overreaction of a herd stampeding one way, and then stampeding the other way on the next news release. |
