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- 2005-11-19
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BULL MARKET REPORT ISSUES SELL STOPS ON CONCEPT STOCKS
TODD'S TAKE: We have decided to issue sell stops on solar electric power products maker AstroPower
(APWR, $22, unch.) and fuel cell maker Ballard Power Systems (BLDP, $21, down 1).[/font]
The companies both have great potential, but given the market conditions and investor sentiment for
stable returns NOW (not years in the future) we think appreciable gains in their share prices are a long
way away.
At this time and in this market, your money would be better invested in other areas, such as staples
like Insurance and Healthcare stocks.
Accordingly, we have issued a sell stop order of $20 on AstroPower and a sell stop order of $20
for Ballard. If the stock hits this price, then we will remove it from our Energy and Aggressive
Growth Portfolios, espectively.
Although it is not exactly fair to group these stocks together (AstroPower, for instance is profitable,
while Ballard is years from moving into the black), we consider them similar in the sense that both have
vast -- and so far largely UNREALIZED -- potential to shape and lead explosive new markets in the
coming decade. That potential carries with it both significant risk and significant reward.
The success of both AstroPower and Ballard, is still dependent on further technical achievements,
consumer acceptance, increased production efficiencies and so on.
Overall, we think AstroPower and Ballard are leaders in their nascent markets and they continue to offer
vast long-term opportunities for aggressive investors.
At the moment, the bottom line is that beaten down investors are tired of waiting for the slow and
costly process of developing the next big thing -- they want stable, sure investments that can grow
their wealth now. Too many have seen it shrink over the last two years.
Given the heavy "concept" element attached to these companies and the long-term market development
they require to begin to hit their potential, both AstroPower and Ballard Power Systems could fall victim
to this change in investor sentiment. That means the stocks could sink, or at the least remain at their
current levels until an economic recovery is in full swing. They are certainly not about to move anywhere
near their 52-week highs, at least not for many, many months.
We do not have the patience for that, particularly when there is money to be made in Income and
Healthcare stocks. If either AstroPower or Ballard hits its sell-stop price, then we will remove it from
our holdings
Bull market report 在STP 上市之初出過相對中性偏好的报告, 但现在也在休正自己的一些观点,虽然没有直接
要求"SELL STOPS ---- 沽空" , 但已经在前夜NYSE 上對STP 很大打击
继续留意
[ 本帖最后由 the_top 于 2006-2-8 12:30 编辑 ] |
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发表于 2006-2-8 08:45