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clock Created with Sketch. 12/09/19
09:39
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Originally posted by Capital Raising:
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I couldn't argue that fundamentally this is now overvalued until the china deal get some runs on the board. Funny thing about price action though it rarely runs hard on proven results. It usually runs on the imagination of what might be and possibility. The confirmation doesn't get the animal spirits running as hard as the though of what might be. Given this has just taken out a high that has been in place for 5 years as ridiculous as it might be this could go to 50 cents. I remember when NEA broke through the $2.12 high I thought fundamentally getting expensive didn't matter ran to $4.50. Snapped back to reality eventually around $2.60 now. But when highs get taken out and imaginations run wild with potential you never know how far a price will overshoot reality.
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The word you are looking for is anticipation, that's what is driving the price up, very good investors always use anticipation to stay ahead of the herd, I had the same feeling about NEA
