Rande Is: Time to bail out.
When NASDAQ peaked at +70 and then headed South, I began to bail out (er, raise cash) in earnest. Did the following:
1. Biotech stocks are last year's internet stocks with sharp 3-5 day runs and declines. This was first day where nearly ALL biotechs got whacked. I dumped all of them and will look to re-enter in 3-4 days. My favorites: ABSC, IVGN, GLGC, CORR and PEB.
2. Sold JDSU at 295 and LPTHA at 65. I may be wrong, but...after sharp 3-4 day spikes, I think they may rest for a day or two, despite the FiberOptic conference. I may rethink this in the AM, though. Any advice from the thread on this is welcome.
3. Held all of my non-PC chip stocks. These stocks seem to be oblivious to everything. Favorites include: PMCS, QLGC, RFMD. Although not a true chip stock, suggest readers look at Sandisk (SNDK), which is having a monster year. They make flash memory devices and have a truly disruptive technology. |
