Morning Steve,
"What are your thoughts?"
I'm still holding my puts, so stop trying to make the stock go up :-)
Thoughts;
We're below the 9 DMA and it is declining.
We're right at the 21 DMA, and the 9DMA is ready to cross below the 21 DMA, a sell sign for the short term traders (I know, never anticipate TA). But if we don't move up, we'll cross below the 21DMA and the 9 DMA will cross below the 21DMA.
Fast stoch is below slower, both above 20 and pointing down, suggesting more downside yet (real sensitive to time frame used).
Most importantly, market doesn't seem to have much commitmant to moving above 9000. Personally I'd like to see it back off to at least 8000 to give little better valuations. We have to be close to a PE of 25 on next years earnings, which looks to be flat to a few percent growth over this year. Just too much boomer money out there. Also, any drop now will be going against the fed, which historically just doesn't happen. So we're stuck between a market with high valuations and a Fed that's trying to help it go higher.
I don't have any statistics on gaps, but it "seems" to me most are eventually filled. WinStar has the gap it left from 20 to 25 on the Lucent news. The top of the gap may offer good support, but if the market shows weakness, WinStar could go to 20 to fill the gap.
Any news seems a few weeks away, at least.
Finger is always on the button to close my position, just don't see any reason to yet.
"Brian - we'll still give you a healthy option package for reading McMillan to us from time to time (right Bow?)"
One of our ladies has agreed to wear the bathing suit. I'll give Brian the options if you give her the office next to mine :-)
Now really, in all seriousness;
I'd put you up against Rouhana or Hovnanian any day. I'd also put Bernard up against Bossard any day. I'd bet you wouldn't have any problem selling say 200 shares at $25,000 to our friends and other followers around here to raise $5 million or so to enter the auction.
Double damn; Pam told me a week or so ago to buy BluyFly. Of course, I didn't. So many wasted opportunities. Hope you bought some Pam (if not, you need to get that remodeling done so you can get back in gear). |
