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To: JakeStraw who wrote (9744)1/4/2002 3:38:38 PM
From: tripperd2  Read Replies (1) | Respond to of 10934
 
I just got out of my entire position in my IRA acct at 27.14. Plan to get back in at a lower price-will try and be patient and let it dip to around 20. I just couldn't stand to watch another stock go down after racking up big gains. Kept my regular brokerage position. We'll see-I am not at all confident that my plan will materialize, but I agree with SB that the valuation is not sustainable.
Trip



To: JakeStraw who wrote (9744)1/4/2002 4:57:16 PM
From: BirdDog  Read Replies (2) | Respond to of 10934
 
BTW, I would be very surprised if NTAP continues to climb much higher w/o a retrace.

If you look at a one minute chart. It will show a classic double top this morning. The indicator was excellent. The stock has gone down from there.
If you look at a daily chart. Today formed an evening star. That is a down indicator.
If you listen to any valuation junkies. They are fit to be tied about ntap's valuation level.
This is not the winter of 99-00. These companies aren't growing at an excess of 100% yOy right now.
I do expect a retracement. The strength of this market. I will have to take a chance at just under $25.
Also bear in mind. TA wise. This market is overdue for a correction. I'm not saying it's going to happen. We could go up very much like in 98. Many TA people lost big counting on a correction. Even though it was an uptrend. They ended up with their correction. But not till October, and it was a whopper.

BirdDog@OhHomeOnTheRange.com