Who keeps selling? A good point. It appears to me that the whole market is being sold by the funds managers as they shift money out of stocks.
I think the recent Greenspan presentations, neutral as they were, gave the funds managers the opportunity to sell into uncertainty, taking advantage of the smaller investors who were expecting a rally. YO!
I fared OK, though. I only stuck a toe in at first, the foot went in after most of the selling had taken place. If we get a relief rally in the coming week, and we should with the 401K batch charge, it may not be very strong. Some analysts are expecting the NASDAQ to visit the neighborhood of 3200 before the slide breaks. If it does, I may wish I had waited. As for now, looking at the next 12 months, I'm happy to be in at these levels.
For the record, my recent buys: AAPL equal parts of 53 3/8 and 50 1/4, EPAY 27, CMRC equal parts of 53 and 45. Since AAPL has the best chance for a rally during the week, I may pull those shares to have some cash for the eventual bottom in the other two. I'm really torn on that though since the company is still firing on all cylinders and has just went into Circuit City. But EPAY and CMRC at these levels are just too good to pass up.
Regards,
HerbVic |
