Chinton,I agree with you,the market can go down and I think,the real bottom is not in yet.I will be convinced about the bottom,
when I will see the Dow and Nasdaq going down on a very low volume.
The recent rally, even with the buy signal generated by my system , DID NOT made me happy.
I have a different investing strategy, than many others.
As an example,last year I bought MRVC for $6-7,when the
book value was 1.Why I bough it.
I knew the company,because they supply Uunet with many different components,like switches and routers.
I even went for a stockholder meeting,with Mr.O'Neil (the best technical analyst in my opinion).
I've meet the owner and his brilliant son working on the fibre research in the University.
I was not mistaken,MRVC went to almost $200 and corrected unfortunately to $50 in the recent meltdown.
Why I am telling you about that,because I invest in what I know.
Like a Janus, I have to visit a company before putting my money there.
Number 1 is fundamental and after I just wait for a good entry based on technical analysis.
The same with WCOM, in 2 years, I will at least double in WCOM. Now PEG is less than 1, in 2 years it will be .6.
This is the safest investment, safer than bonds now.
What if WCOM one day will open 10% up, it already happened ???
I play with 10-15% of my position, but the rest I decided to hold for a long term.
Regards,
el |
