Delphic, If we get to what appears to be a clear bottom on the Nasdaq, I'll buy some techs to hold. However, some techs will bounce, while others will continue selling off throughout the summer. . . so stock picking is important.
If we bounce here, I won't trust the Naz. . . and will expect it to still go lower. Remember, I believe we knife through last Tuesday's low and even pass the 200 DMA. . .before turning. But once the air is deflated out of this balloon. . .I don't expect a major rally to develop. . .though I do expect plenty of minor ones.
So I'll keep my value plays. . .but will very slowly begin my collection of undervalued tech stocks. . .like today's buy of MMPT at 14 1/2.. . . which I would average down into single digits any day. [Remember, if the internet goes free. . .ISPs won't make connection money and content providers will get paid by advertising. . . .and advertising/marketing agencies will make most of the dough. . in a similar fashion to the way it works with TV.]
One by one. . . picking from those that are oversold without good cause. . . buying at ultra low prices and holding until about February of 2001, when I sell them all off to those willing to pay a ridiculous premium.
So what I hold over the summer will depend on how the markets respond. . . but mostly it will be a mix of value plays [banks, Dow stocks, REITs, etc.] . . .undervalued [relatively] techs. . .as we spot them. . . cash and my super long termers that I am almost never without. . . .[BB:USTI, RDOC, LDIG, NUT, LPTHA, PVII, BB:PLCO, ADAP, BB:EUNI, etc.].
Hope that helps,
Rande Is |
