As I stated on the QCOM thread, I want more JDSU, but I want to buy it during better market conditions. Better market conditions could mean two things. After a very large sell off, I would be a buyer, or if the market stabilized and started to move higher, I would average up. Right now I can't tell which way it is going, it's seems to have a bias to the downside. IMHO, Last week changed market perception. Perception is everything in the market, I feel most players are coming around to the thinking that the market will be selling down short term. We get INTC earnings this PM, that will be a tell as was YHOO and ARBA. ETEK reported yesterday, they had a great report, as did YHOO and ARBA, but ETEK is up after earnings, while they are down. I love stocks that go up before earnings, then continue to go higher, I see ETEK reaction as vote of confidence in the optical sector, while YHOO and ARBA reactions as an sign of excess.. How long it takes to work off this excess, is anyone guess.
Greg |
