Hey Bill,
I've been meaning to catch up on the other thread....
>Sal, I'm wondering if you're staying too universally bearish.>
I guess "bearish" isn't the right word. It implies that I'm looking for a long-term downtrend. Let's say I'm looking for a "correction," followed by a "consolidation" period. It should take a few months, at least. But it might extend further (depending on April's earnings announcement--which I don't expect to be so hot due to product transitions, competition, price wars, etc.).
>It seems to me there are plenty of values here in tech stocks, and the moves up from whatever lows are made will be quite dazzling.>
Agreed....but I still don't think we've seen the bottom. So, oversold/undervalued, or not, techs will go lower as long as the psychology is negative. As always, the sector is painted (perhaps "tainted" would be a better word) with a broad brush. If one sector is having trouble, even the best and most undervalued/oversold companies in other technology industries will go down too. HOWEVER, when the market turns higher, those stocks will be leading the way, upward and onward!.... |
