"Everything is AOK with Y2K", guys quitting their day jobs to trade stocks, and Abby Joseph Cohen broke the gavel opening the NYSE....I think it's time to go into panic mode<gggg>
<g> Actually, make that a <q> (slightly strained qrin :-)
Started Monday AM with 15% cash, no margin, portfolio with a balanced array of sound growth techs, figured to wait quietly until April or so major correction, then make a killing bottom fishing. Some options and stuff to keep amused while waiting.
"..and all the plans of mice and men gang aft a'glay"
Tuesday, lunchtime, NASDAQ down 150 or so, boss comes in, fighting to conceal a smirk, asks me if I've reconsidered my retirement plans. :-) He owns Iomega and Compaq, so I figure it's time to buy!
Ran out of cash Weds and went into margin. Get hate email from coworkers because I'm still walking around smiling (joke, the email that is).
Spent today buying, NTAP, SEBL, GMST, XLNX, some B2B's, up to about 40% of my margin availability (so my current holdings can decline 50% or so from here w/o a margin call).
Ticked because I wasn't able to watch the last hour or so, missed some better yet prices (tho I'm getting near my risk tolerance level here anyway).
FWIW, note CSCO/ORCL/SUNW (IMO the strongest techs) getting whacked at the close today. They're "last down, first up" stocks in a correction (I'm quoting from my broker, wiser than I), so maybe that was the bottom.
Personal theory, recent corrections last summer/fall, notice that they don't end until right *after* all us buy-on-the-dips types are all in. Then the solidest stocks take their obligatory dips, and we're done.
- Dway, standing tall and and laughing into the storm, fingers crossed behind his back. |
