Causabon, I got hurt on UIS (again) but thank god I have fresh cash. I loaded up at the bottoms today on several cheapies. Plan to hold them 6+ months and double my money. List is UIS, LOR, CA, ADIC, NOVL and VZ. They may dip a little from here but the upside's huge once sentiment changes. The second half will be make for a very twice recovery in the related sectors. Avoiding bonds and high-fliers (until they fall). Have my eye on COMS, LU and QCOM first if they dip any lower. Minimize the downside and hold. That's my plan. UIS is the only one I blew it with lately. Have decided to quit trading so much and just buy cheap and sock 'em away. Will hold my SUNW, INTC, IBM and CPQ. When you buy stocks no one else is buying you've got to be ready to hold a quarter or two. Changing my strategy because I've sold too early and picked false bottoms too many times. Over time you do a lot better buying when no one else is then just waiting. Got to be able to afford to do it though, and make a few mistakes as everyone does.
Case in point, 1 1/2 years ago I held CIEN, ERICY, BVSN, SYMC, ADBE, AFCI and PAIR at an average price of about $10. Sold on the next pops. Sold ORCL at $26. Sold WIND at $17. No more. When the market gives you a gift, take it. Then be patient.
All you bears will have your days but it's like pissing into the wind. Naz just recovered 40% and there's nothing but doom and gloom with you. INTC beats and you make it sound like they're going out of business. INTC's another one I should have held from $67. Oh well. We all learn if we want to learn.
Today's CPI was just fine except gas. Gas prices are coming down. Some say oil could dip to $20 by year's end. So much for inflation. It's going to be a close election but I think Gore will pull it out and there will be a huge rally after that and on into 2001. Always pick the underdog six months before a presidential election. They always end up winning. Remember when Dukakis was ahead? People are counting Gore out now because of Nader. He will disappear. My parents live in Texas and Little George is known as a do-nothing in the pockets of oil money. That will all come out. The air in Houston's got more and more polluted since he's been in office. He comes off macho but is really something of a rich kid slacker. The one edge he's got is in looks as women sometimes fall for that. Anyway, got to go to bed. Tomorrow should be a choppy-lousy day. Or we could get a modest rally. Depends on the fickle finger of sentiment. Profit-taking today or the end of the summer rally? A little of both but I'm buying cheap and expect everything will correct sooner or later. Oh yeah, bought a bunch of cheap VZ today too. Have that and T for the longer term. I'll have a good sleep tonight.
So I'm betting on underdogs here. Failed to pick anywhere near a bottom on UIS but otherwise I'm in good shape and excited about the prospcts. Have some cash coming in soon and will invest in high-flirs when and if they fall. Will hold the whole big basket until 2001 at least and we'll see where I stand then. |
