Harold, our friend put out a sell on it today so we will have to sell or let it churn through it. If you think the market is going to hold and only go sideways for a while, SPNSF is at a perfect buy point at 9 3/4, setting on its lower uptrend line. Therefore, guess my sell point would be 9 1/2. I am just about to load numbers into database, but I don't think it was hurt by the earnings. The only problem on the street is the concern that in 2-5 years stocks with strong Y2K capabilities will grow broke.
But when these companies pull back they will probably be snapping them up right and left. Growth progression for SPNSF is in tact, but just need to have more buyers than sellers. I'm hanging on for a while anyway. <G> However, I do have a small margin call so I may end up selling SPNSF or SPF, which is also sitting on support. Technically, I am tempted to buy more SPNSF, but I am just a little leery of the market.
Everytime we fail to have a correction in front of earnings but go up strong, we hit the middle of the earnings and buyers get very nervous as to "whether market" can stay up. That seems to be where we are now, esp for the DOW. Since Nasdaq added internet stocks to index, it has been flying with the internets.
Bruce |
