Teaburry22:
I think you might have misunderstood my point of this morning. Let me make it very clear to everyone on this Board. I AM AS BULLISH ON SEPR AS THEY COULD COME for the longterm. Having said that, it does not mean that the stock is going to go up in a straight line, and that is where TA comes in handy. It is an indication of Supply & Demand, and should be coupled with Fundemental research to get the best analysis.
If you look at the daily chart of SEPR, you will notice that we have made two attempts at the $60 level and failed both times on low volume. This does not mean that the stock will come crashing down, but rather a need to consolidate a little further for a continuation of it's uptrend.
As far as the recent downturn associated with this so-called double-top, I think it is different this time than the $40's level, because we all know that the FDA is in the process of issuing a final approval on Levalbuterol and real earnings will start rolling very soon. A test of the low $50's once again would only present a rather golden opportunity to add to your long position for a kill within the next two years.
As far as this Sturza character is concerned, his recent downgrade to "Hold" is the last of my concern. Anyone with enough knowledge to analize numbers would clearly know that this Company is on it's way to be a cash-cow by 2001. In addition, any Investment Letter Advisor with a total position of 3,000 shares (1/2 of which was sold in the $40's) does not really give any credence to it's recommendations. Instead, he should go by the famous saying "SHOW ME YOUR PROFITS BEFORE YOUR RECOMMENDATION".
On a closing note and accoring to my indicators, a closing above $58 1/2 which has been the intra-daily high on four different days, will signal a third attempt at the $60 level (third-time is a charm).
Good Luck to all.
Mazen
PS: I am glad there are still investors on the Yahoo Board who are alive and kicking. The SI Board gets very quite and lonely sometimes. |
