Zoom has done very well despite the virus and anyone owning it should be congratulated. But there is a time to buy and a time to sell. These actions require qualities that are seldom found in one person and require a great deal of flexibility of mind, something I certainly do not have enough of.

Anyway Zoom seems to have completed a 5-wave sequence, roughly from $60 to $180. Since this is a new stock we have no way of telling whether this wave is a third wave – to be followed by a 5th to complete the initial 5 waves- or already a 5th wave. In the former case, as no overlap between waves 5 and 1 is allowed, the stock can only drop to about $110 to use round numbers and the process could take about 4 months. In the latter case the stock could drop all the way to just above zero. Neither of these possibilities are very attractive.