Art, unfortunately, my turnips scenario seems to take its toll on SNDK even faster than on the rest of the market, we have another good 10% from the April 17th low, but SNDK is already brushing with the low set that day ($70, I believe).
Personally, I think that current prices are going to look quite attractive by July (just as $70 was attractive a week later when SNDK got back to the $110 to $120 area), but you need steel guts to get through the current period of uncertainties. Unfortunately, we are still in the stage of "Chinese Torture" when the price keep declining, but we never reach a level of extreme pessimism, required to set a good bottom in the techs. Thus, I am staying with my forecast of a NAZ under 3000 during a spike down, sometime before the end of May (I actually have May 18th as the "Bottom", but this is just a wild guess).
Not all stocks bottom simultaneously, thus if we seem to hold the $70 Maginot line during the next few sessions, i think that those inclined to add to their position may want to consider watching the stock's action in the next few days. I know I will.
Zeev |
