"Why have so many ( not all by any means ) turned negative with WCII?"
Many of us have just been there/done that with WinStar. We gone through at least two periods when we felt that the stock had finally arrived, only to have it fall back to ten, once from 33, once from 48. So we're probably just a little over-gunshy.
To me, this market looks like it's paralleling the June time frame too closely. Aside from the WinStar chart lately being almost identical to the early June chart, the tone of the market seems the same; ie Dow and large caps racing ahead to highs with too much exuberance, outperforming the small caps, the crazy IPO's, the crazier internet stocks, etc. I looked at the performance of 12 CLEC's last week as the Dow and NASDAQ 100 raced ahead, and 11 or 12 (I already forgot the numbers) were down for the week. This looks like what SW yelled over and over to us last June; money rotating out. We then went on to lead the rest of the market down. If this happens again, it looks like the market could be setting itself up for a huge double top, and you'll be hearing the terms "bear trap" and "suckers rally".
"I remain upbeat on WCII."
Me to, on WinStar the company.
But don't confuse that with WinStar, the stock.
They don't always have much to do with each other.
What's the saying, once burned, twice shy, or twice burned, three times shy, or something like that. |
