Over bought or what, just because Pescod
decides he likes a stock will not make is stay higher. Stocks move when all the insiders and big players decide they do not want to sell at the current price. If someone like Pescod pumps the stock he may move the price temporarily, but then the big holders come in and sell it back down to where they already had it sitting. The stock will only sustain a higher price when there is news that makes the big shareholders decide they are better off holding than selling into strength. This is why I usually sell into strength even when I like a company, because unless there is some valuation changing news, I will get to buy the stock back cheaper after the big holders sell into the strength and push the price back to a price where they do not wish to sell any shares. JMHO