Well, I've been sort of dropped out of the market, waiting for this bit of current unpleasantness to bottom out, and then to buy.
Been buying selected issues on irrational downdrafts. E.g., picked up some mcaf at 55 a few days ago. Its still even today above that.
Wish old CSCO would break down to 70 or below...
Have some coms at 46 from a couple months ago....
I don't think the current downdraft is over so haven't jumped in generally, haven't yet bought more coms or asnd since both are trending down rather badly w/the market on fears of missing next quarter. Of course I said three weeks ago it was abundantly clear to me that asnd wasn't going to just miss July, but the quarter, and naturally suffered some abuse around here. (not from you of course)
So if I was going to say too much it would have to be of the "I told you so" variety. (again, the you doesn't mean YOU, Trufflette)
I expect asnd will go lower, but aren't sure. Expect tomorrow will be down, perhaps w/end of day strong. (Despite our man Cramers pronouncement that the Friday curse is now over.)
But of course I could be wrong. ASND is a buy here, by my models and in my opinion. I just am waiting for a better buy. If I don't get it, I'll still pick up a bit above these levels.
But for me no real chasing. The market is gonna see-saw the rest of the year, and we may well get a dow a bit below 7k at some point. But probably a rally pretty soon now.
Doug |
