Fortunately I raised my cash position to about 34% before the worst of the recent fall, leaving me with positions in CSCO, JDSU, NTAP,GMST,SEBL (all about equally weighted), a double weighting in QCOM, and smaller holdings in CREE,CTXS,EMC,MSFT.
I've been agonizing over what to do. Today the market is down enough to qualify as a correction. Some interesting statistics- once having reached this level, the average loss before the correction ends is 19%,and there is a 27% chance of it turning into a full fledged bear market. I just can't find any better stocks than the ones I own, because of GG I feel I know why they are good and I can't time markets. Most big stock market gains take place in a few days so I think I will just hold. I probably should just turn my computer off for a few months, but I'm addicted to SI.
Today's decline is very broad based, hitting stocks like SEBl with good quarterly reports as well as stocks with not so good reports. They are throwing out the baby with the bath water, a sign of beginning panic and maybe margin calls. |
