I have failed as a trader. I bought XRX two days ago. It was only 10 PE. Now it's 8.5 PE. Actually I highly recvommend it when it touches its bottom which you know it will on Monday. 19 should be a great entry point.
I did have several winners today though and broke even. EGRP, LOR, UIS. Only 3 out of 12 thought. UIS looks very strong. LOR will have its day.
My strategy calls for patience sometimes. I may buy stocks there is no volumn or momentum in. Just have to wait.
Remember last year this time I bought CIEN at $8, lots of it. And NSCP, remember that one? My two biggest winners. Unfortunately I sold CIEN at 17, NSCP at 49 and BVSN at 11. MRVC at 7, AFCI at 8, ERICY at 21, etc. The only one that's the same price now is COOL. E-commerce.
But this is a different year. CIEN is at $60. So I can should just be patient or look for bargains. Or of course stocks you think are just about to pop.
Look for a choppy next few weeks, then some buy opportunities, then another big rally in January. But individual stocks will act up. And some sectors are still very much down in the dumps (for no reason). DD's, oil service, financials. Software has mostly jumped already but IMRS hasn't yet. But will.
Specialty retail should be very profitable by March (as always) and good entry positions are available in BEBE, ANF and URBN (my favorites).
IBM conceals its value with these cautionary statements.
A real bargain and very safe. |
