<<I still believe we will have a great year-end rally for which this recent nasty correction only will seem like a great buying opportunity. Not yet for me though.
>>
I agree and as I said, I feel we will have several headfakes. The houses know many folks have sold ar are selling. They also know these folks....like you andme.....are waiting for a bottom to get back in. I think they will offer us several false bottoms, just to get those buy orders triggered by the little guy. Then? Down again they will take it.
Anyway, my situation now is this. I can think whatever i like, but it dont mean squat. Naz could shoot to 5500 or 2500, I have no idea. What I a trying to do....with trying being the key word, is limit my holdinggs somewhat but not bail completely. If the market goes up, my qcom, qcom leaps, aol leaps and etc, should do well. If the market goes down, I want to be in a position where I dont have any stcks that can fall another 80%, and have very little or no margin in use. This way, a drop wont force me to sell, and may even enable me to nibble a little if a true bottom is reached. The hardest part of this is not holding stocks you love and want.....sunw, ntap and etc......I want em, but am too damned scared to buy at this point in time. Maybe if I had alot of cash in reserve, I would do the 1/3,1/3,1/3 thing, but since there is no cash I am forced to play by different rules.
Thanks for the thought....have a great day
keith@damni'mtired.com |
