Ild:
For the moment, I'm concentrating on the PC and semi sectors, primarily because the saturation in the telecom sector is about a year later in maturing than it is in the PC environment. If I am lucky, they will take down the box builders and semi boys first and then I can go back and take a shot at the telecom sector.
I do think that a few d-o-o-t-m- puts against Nortel makes sense just as an insurance policy. Nortel's internet-based strategy appears bonkers to me, and the company keeps buying up wacko situations (Bay Networks, Teleglobe, etc) at inflated prices. As it is THE stock up here, (and represents 35% of our major index), it has been driven up into the nether regions by too much institutional buying. When it lets go, the fall from grace will be a beauty.
There are of course several others that are in a similar pickle, but as this one is at my doorstep, it works best for me.
Best, Earlie |
