DAX, you know what? You're right.
After perusing the DELL, QCOM, CMGI, and JDSU threads both here and on RB during the last 48 hours, I definitely get a sense of retail investor anxiety in the market. Lots of woulda, coulda, shoulda's. People looking for support points on whatever charts they consult.
The fear is not there, yet. But it's close. Just lots of regrets. But when retail investors become fearful, that'll be the buying opportunity for those who want to add to their positions.
But I'm a real lousy market timer. I'd rather just carry the position, hedged to a reasonable extent, and be sure I'm in the market, net long deltas. And if I have the good fortune of buying at "fearful" prices, well that's fine.
Lots of retail selling yesterday in CMGI. But also noticed a few 10,000 share block buys, which I equate to the informed behavior of smart money which has also decided that they like the CMGI story and it's better to be "in" now than to wait for confirmation...
JMO,
Mark |
