Looks like a double top was formed today with the blow off stock action of the last week. ISRG better not break below $340.. if it does it could easily see $300. Please notice how a sell was given on a SYMetricial triangle formation in early April when the stock went down to the $330s then it crossed up the bears and when crazy to the upside. I believe if we see a close below $340 the same action will take place but to the downside. If i was long a stock that is selling at 50x earnings in a market that is over extended i would not get to cocky about other persons incorrect calls. Guess memories of 2008 have faded already!! GL to all trading.
2008 was an acute economic crisis unrelated to ISRG's fundamentals or valuation. The share price dropped but then again so did everything else. What's your point, don't get caught in a general panic? Should I move everything into cash? How about staying invested in this hugely successful company for the long term and just hedging just in case.
Last time I looked I was doing pretty good with this. Let's check back next week and see where we are.
People were saying essentially the same thing prior to the last earnings call a few months ago and the shares were at $304. The again they were saying the same thing in 2006 when the shares were trading in the low $100s