If the market goes down, you won't have a defensive posture.
The stock collapsed back down to 6 in two months because (the company's) growth rate was 650 percent in 1995 and it slowed to 87 percent in 1996. Eighty-seven percent is fast growth -- but it's at nosebleed valuations.
There's this spider's web of corporate earnings. Companies are making the bottom line, but the outlooks are tepid and cautious. It's giving the market some pause.