Ya, I know. I bailed at $35 and selling absolutely SUCKED, but I believe we may be approaching some hard times and with my faith in CPQ basically vanishing, I'm holding some cash for bargains.
All of my other stocks made good profit last year. One 25% and the rest over 40% so in a sense I have faith in them and even if the market corrects, I believe those are dominant in their industry and will go back up the fastest.
When I bought CPQ, that was also my opinion on them. Six months later I bought DELL as well (with some nice market timing), and the stocks up 50%. Owning and studying both stocks, I now believe DELL is superior to CPQ.
I won't argue with anyone who says DELL is overvalued and the PE is too high, but I lost tons of $$ saying the same thing about DELL and AOL. I now believe they have the credibility and future outlook that not necessarily deserves, but has warranted the higher PE.
I also need to garner up more cash so I may sell some of the Pfizer shares. There will be one time, and maybe two this year, when stocks like AOL,DELL,EMC,WCOM,CMGI,YHOO, and CSCO will be incredible bargains. I hope I have saved enough $$ and grown enough balls to take advantage of that.
Best of luck to you Elwood, and while I don't think you will, I hope in six months you can give me shit about bailing out of CPQ at $35 !
Brett |
