Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of JDS Uniphase
So what: Analysts at Stifel Nicolaus and Evercore are providing the spark; both upgraded the stock before the market opened. Stifel put a price target of $30 on the stock, and investors responded by pumping the stock to nearly that level.
Now what: Momentum is definitely on JDS Uniphase's side, and after outstanding results earlier in the month, the fundamentals are also improving. I am a little hesitant to buy after such a long run higher, because when the momentum trade ends it can lead to a nasty fall. For now I am mildly bullish on the improving results but am still afraid of buying at the peak.
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