Scott, first, I am not a Maven, I am just a simple turnip farmer. Second, I hope you were not buying late in March when I voiced those same sentiments for the first time since the cycle bottomed. Third, right now, I think you are right in buying. I have had a "forecast" of a bottom for late May, with a "mild retrenchment" after that to the June 23 to 26 period, where I have been buying. If you do not see just red when I post a cautionary post, you will see that my opinion is that we will not make major new highs in the semi equip (essentially, I "see" marginal new highs at best by election). Since these late March high are quite far from where we are here, it surely is worthwhile going for these. What I am saying is that one should be careful not overstaying too long in the semi equip, past the next few months, where I see many of these stock making major double tops formation, where I suggest investors should use the opportunity to lighten up, not here, not now. Of course, since I have taken this "current" bullish position, I presume that come Monday, you will be selling (g).
Zeev |
