<<do you still feel this way? (that a big downturn is coming). >>
Yes I do feel this way. I am not a TA type either, but I do pay attention that voodo science. -g- I am saying it from the perspective of liquidity (my observation only, of course). Broadbased rally days are only a handful since GreenSpam bailed the suckers out in October. Off late it is increasingly evident that one sector has to take a good hit before another sector can get a lift.
Only thing that will change this scenario is a new high on NASDUNG by end of next week. We will have to see who will be the leader in that rally.
<<Gnet reported today a blowout. >>
You suppose the stock is very cheap and the "blow-out" is not priced in? -g- Goodluck on these mo-mo stocks. Remember one thing, when the music stops, not one but a vast majority of the players will be out of this musical chairs game. Take it from the guy who has been there and done that.
Having executed my stop loss philosophy dutifully, I have missed huge run-ups on three mo-mo stocks - EGRP, PCNTF and SWS. If I didn't get stopped out earlier on EGRP, PCNTF, I would have sold them at around 85 and 75 the way up. Oh well, that is life!
Re. IBM earnings, They debt is up 2% and book value is down 2.6%, YoY. That too when tax rate went down. Go figure!
I am looking at MYSW as a possible mo-mo candidate. Any opinion on that one?
PS: You might ask - if I feel so strongly that a sell-off is imminent, why should I cover my DELL short? Well, I have to stay in the game for another day. Also, the mo-mo game is what I play the most in my IRA where I can only go long. |
