<<seek out value and fundamentals>>
Seems like that is what I am doing, meanwhile my portfolio is being taken out back and shot like a rabbid animal.
It's almost too ironic....I kept waiting and waiting and waiting to get in on extr. I kept putting in low ball offers that kept on missing. Finally I got some stock at $90, I believe, which at the time was on a dip and considered by most to be a good price to buy. Same with the march 100's...kept missing, finally got at $20. Then extr went up a little.....had profit in both the stock and the calls, but very little profit as the stock only moved back to $100 or so, and I was looking for a run back to the $120 area. Then extr gets slapped because of what I thought was an erroneous report on their earnings by reuters. I missed it in after hours and was pissed. But "luckily"<ggg> the next day the FUD was still present and I again bought I think for around $86, which again, was considered a bargain. Well, as we know, extr is being taken out to the woodshed and being beaten pretty bad. I was planning on buying more calls or stock on this dip....and jdsu also. However, after seeing the effect this drop in extr and jdsu has done, I am probably best not to pull the trigger. It's a shame, because my jdsu and extr calls are down massively, but with this market, since I dont know if and when these two stocks will bottom, I cant afford to buy more and watch them too get cut in half. If I knew these stocks had bottomed, I would buy more calls to average my cost down, but again, if Ibuy more today like I had planned, and if they get cut in half or by 75% like my current one's, it would devistate me, so with that in mind, I am forced to sit and hold what I have, pray for the best and not buy anything. It really is a quite humbling experience to buy something and see it down 75% in 2 days like those march extr 100's ( the jdsu 100's arent far behind<ggg>), especially since this stock has been doing so well, right up until I finally get in. Anyway, I am going to sit tight and hope extr and jdsu come back from the dead. My concern at this point is essentially the naz hasnt really got hit too hard, but extr and jdsu have. If the naz continues back to 3000, it is scary to think what those two will do.
I'm in a damned if I do and damned if I dont position....wanting to buy and knowing long term the stocks will be higher, but not being able to buy because of the short term possibility of further downside.
have a good one
keith |
