Yeah, that's what I'm afraid of, too. But so be it. I've said many times that I'm in this for the long haul, and I just may have an opportunity to prove it. I remain convinced that Sun will continue to do well in the future, despite this "blip," if I may call it that.
Further selling pressure could come from margin calls against weak money, or just unmitigated fear. My hope is that most of those people got out on Friday -- volume was huge, after all. OTOH, only a recognition of the value represented will result in buying pressure, and that's usually not a very strong force, IMHO. I.e., fear is generally stronger than greed. I'm not aware of anything significant that's likely to give SUNW a boost on Monday, and if IBM's earnings suck, that may drag everyone down still more.
It's becoming pretty clear to me that interest rates are too high in this country. I think they're largely responsible for the strong dollar, which seems to be at the root of much of this malaise.
Everything in Wall Street seems to move to excess these days.
As an aside, I wonder what the folks in Redmond think of this. They could be enjoying it (they've never been especially sensitive to the misfortune of others, IMHO), or they could be wondering what will happen if MSFT ever misses by a penny or two (which, again IMHO, is bound to happen eventually)!
JMHO, as usual, and no investment advice intended. |
