Is "Read more" a good link text?

Excerpts of posts displayed on a blog index page usually end with a link saying "Read more", "Continue reading", or similar.

Now, it's very well understood why "click here" is not a good link text, but don't most of the arguments hold for a "read more"-link?

• it doesn't provide any information when read out of context (read more about what?)
• it is a verb phrase

I'm thinking something like "More about [post topic]" could be better, albeit more verbose.