Yes, I hear you. I did lots of pruning the two weeks before the plunge, and even did a bit more early today.
Mcic for me (who is long term long on Wcom) is a special case, a virtually sure thing. And I think it is now too. Wcom by itself would not be in this environment. (Among other things one could always sell Wcom immediately after getting $51 worth of it in six to nine months. As for Wcom's selling down today...that nearly always happens to the acquiring company, especially after it strongly raises its first bid in the face of competition. The target co, Mcic, is getting that much more Mcic stock...at probably about a 12 pe, due to the collar and exchange ratio. (This is stuff I understand.)
I think for buying generally it is important to wait. I did of course buy some on the plunge ONCE THE STRONG REBOUND STARTED, but sold most of the tech part of what I bought then in a few days. So I had some quick gains there. But took some losses earlier.
Anything related to chips or pc hardware is suspect, but I am starting to further prune some software too, despite most of it doing pretty well.
I feel quite sure we will retest, but it may be the much lower intraday Tues. am lows.
Anything whose earnings near term are suspect will not be treated well in this market for a while, despite longer term promise, I think.
I know you'll stick with it, perhaps a little differently.
Regards, Doug |
