John, looks like this temporary meltdown in the Naz is in full force. I closed all my option positions last week and am now starting to reposition myself for this year. So far my basket of option & leap goodies includes CMGI [split next week], YHOO [possible split next week], JDSU [split coming up], BRCM, CMRC, QCOM, PHCM, NT, NOK, DELL, IBM, GSTRF, & GBLX. You can tell I read Gilder. I've also started following Michael Murphy but am less enamored with his thinking & stock selection.
I think that the market will expect the Fed to boost rates by 50 basis points if the employment numbers are strong on Friday. I suspect that a 25 basis point increase is in the cards already.
In any event, with this y2k red herring out of the way and this mini correction behind us I believe 2000 will be a good year, maybe as good or better than 99.
regards, Gabriel |
