Hey daba--
My reasons for selling DCLK at $130/share have more to do with a gut feeling than anything. Perhaps the run up will continue, but I feel a major correction is due before the next significant rise. Additionally, I don't believe that $5 billion in market cap is justified at this point, even if earnings are stellar. Finally, I don't think the internet sector will sustain this momentum during earnings season, and I think the whole sector will drop after earnings season. I don't like the way the "broadband" (athm, bcst, rnwk) stocks all rose last week, followed by "blue chips" (aol, yhoo), followed by online bank and investing stocks (etrade, ameritrade, ntbk, sone), followed by the fourth wave which has included DCLK and second-tier .com companies like AHWY. This is pure momentum. I'm getting out because I'm satisfied with the gain so far and value peace of mind.
I will continue to monitor this SI thread, though, and look forward to reading all your posts, and buying back in after a few months.
Good luck, everyone.
-Sanjay |
