Hey Mark, who knows????
I knew the warning was coming, bailed on Friday at 36 after
riding it down from 38 3/4, and doubling at 30 1/4. Must say I felt
like an idiot yesterday, when the stock was over 39, but I was so
confident they would correct the channel problem any day, I was
happy to watch it run up. Almost shorted, which would have been
a first for me, but I didn't have the cajones to do it.
Sure enough, a disastrous preannouncement. That guy Craig
Crawford (bear on the COMS thread), who shorted more at over
38 is going to make a killing come tomorrow.
I've been bullish on COMS for quite a while, and traded it
regularly for small/intermediate gains, but this last ride down and
up (and now down again) has been harrowing.
CS lost 33% today, from an already depressed price. Just on COMS
closing today, a 33% loss for them (and I think their news is worse
than CS's by the way), would put the stock at around
23-24.
It could be a good buy at those levels, but after Newbridge,
CS, and COMS, how many people are going to give up even
thinking about the networking sector for the next 3-6 months?
Don't honestly know the answer. If it hits the teens, though,
I couldn't possibly resist putting some away as a long term hold.
Dave |
