OT: LU, ORCL, tech stocks, and safe havens:
For me, the choice is CSCO vs. cash, or CSCO vs. a hammered-down non-tech, like an oil driller. RIG is the only thing I've bought in May and June. January through March, the only things I bought were SAP 2001 calls, and index puts. I've done a lot more selling than buying, and have been 40% cash since I sold all my CSCO at 117.
With the long bond at 6%, now is not the time to be buying growth stocks. If the techs sell off, they'll all go together, and ORCL will not be a safe haven. If anything, the highest-quality companies (csco, lu, intc, amat, msft, sap, dell) will weather the storm better, and recover quicker. But everything on that list is absurdly overvalued, with the possible exception of SAP.
Slim pickins for GARP investors. I think I'll wait till after the Fed raises, when the dow is at 9000 or so. |
