NASDAQ selloff at today's open is (IMO) a great buying opportunity. Unfortunately, I mistimed the market and bought heavily just before yesterday's close, thinking today's open would be strong. For those of you fortunate to be holding cash, it won't get much better than this, with NASDAQ down 133 as I'm typing this.
My guess is that as we approach the Fed meeting at 1:15PM EST, the NASDAQ will begin to rebound. Consider taking positions in the leaders within strong sector:
fiberoptic: JDSU, SDLI, CIEN, LPTHA
software: VRTS,SEBL
ASP: CTXS
Chips (NON-PC): CREE, AMCC, PMCS, RFMD, SNDK(flash memory), TQNT
Storage: NTAP
If this isn't the exact bottom, it's probably close enough. |
