It sounds like you must be playing mostly in the tech sector which is and has been undergoing a long term secular
re-evaluation the last 6-8 months with a bear market rally
in the July-august timeframe. I look for the techs, the
retailers, and many of the over valued sectors or those
sensitive to a slowing economy to retest the March-April
lows and go even lower, until the PE multiples seem more
like reasonable proxies for future earnings projections.
This will take a bit longer to go from 100, 200, 300 multiples to multiples no richer than 40-50, and more
like 25-30 on names like Csco, Orcl, not to mention Yahoo,
Amazon, Nokia, Qualcomm, and others.
I think energy is a nice respite and a solid place to be
all during that process and for awhile longer after it.
Hope you don't get burned selling your Swift based on MACD
which is only a head fake, don't believe you will see
a really strong signal like the one back in July-August in here.
Trend and Direction is up, slowly but surely.
Truth |
