<the lows for the immediate period are probably set. I think as we get past the earnings pre-announce
period that the bias will return to the upside.>
I'm assuming you're talking about the internet sector here. If so, I am surprised to hear you say this, for these reasons:
1)The typical internet decline of 50% takes place every 9-12 months, as evidenced over the last 5 years. If we follow this pattern in 2000, 50% off the dot's recent closing high of 1215 is 607, so we still have 40% downside from Friday's close of 1062. (ugh!)
2)Historically, the internets have sold off after earnings, and have begun to recover about 6 weeks after that. Using Yahoo's 1/11 earnings report as the bellwhether, we should start seeing a recovery in late Feb/early Mar. (Granted the selloff is a week early this year.)
<I wish every day could be like today - I'd buy an island and get satelite service to the Internet!>
I am seriously hoping to do this. I may not have bought an island, but I bought a piece of one with profits from the trading week before xmas. I want to be able to post to SI as I drink my Starbucks on the Winslow ferry enroute. If it's foul weather, I want to post to SI as I snuggle up to a crackling fire inside. If it's fair weather, I want to relax in the sunshine on one of my four decks as I post to SI and enjoy the incredible view of the Cascades, Mount Rainier, Seattle skyline, and all the islands and water in between.
Know of any wireless internet service providers in the Seattle area offering service NOW? tia, Rob |
