Simon, yes, I agree that a growth stock strategy is needed here, not my style so I can't comment. Except that I can't help thinking that a growth stock investor - who is picking up at these levels will need to have a pretty solid exit strategy - and I am not talking trading here, I am talking about those long term investors who want to hold on for 5 years or so. Of the 3 scenarios that could play out (continued price run, stagnation or downturn) anyone taking a punt now is betting on a price run, or at least doesn't want to miss out. So the question I ask a would be investor is, what are you going to do with the other two scenarios. A value investor would ride it out - knowing that he or she is still going to get dividends, and their capital is adequately protected. A growth stock momentum investor?