Where did you get this information that "Intel came out and said the the overall demand for PC appears to be holding strong..." I would like to read that article, it would make me feel better about this whole thing.
Also, what you are saying about being informed is very rational, and mature, however, Wall Street is very irrational, and immature. I consider myself to be an extremly well-informed, and rational intermediate/long-term investor. However, I have paid for it, especially with LSI Logic. A few weeks ago, they came out with Earnings 2 cents better than expected, of course, Whittington had to open his fat mouth and lower his EPS estimates for '96 down to only 30 cents ABOVE Wall Street consensus. That day, the stock was down about 5 points, but instead of selling it, I thought that Wall Street would realize that LSI was a great company, and understand that Whittington estimates were originally too high. Since then, I have lost about 10 more points on LSI.
By the way, I wonder how many big-time institutions, and Whittington's relatives and friends began to short semiconductor stocks last friday?....And will they long them again starting tomorrow, just before he changes his mind again and upgrades the whole industry. |
