<<We each need to look at our portfolios and ask ourselves -- are we investing or are we gambling? If you are investing, there is nothing to worry about.>>
Hell, I always thought I was investing, but it is now painfuly clear that the stock market is "gambling" any way you look at it. TA is only good for so much. As far as EXTR goes, most TA was showing good resistance at $90....so In that respect, it seemed like a good place to buy the common. With their stellar report and fine words for the future from the big boys, the march 100's looked great. I kept watching them go from like $20 to $40, back and forth. Finally grabbed some, at what looked like a great price $20 and $24. Additionally, with the mistake with the reuters story on extr, I actually thought I was finally being given a gift.....the chance to buy more lower, because of an erroneous reuters report. I think I, and alot of others felt once things got straight with extr, it would pop back to $120 like it had been doing. So much for the charts, huh?! As far as JDSU, well it sure looked like a breakout to me when we went from $90 to $100 in the blink of an eye. Fiber optics is a hot and quickly growing sector......simply amazing that a dog like amzn that has never made a penny is being congratulated while the "real" companies are making money, but getting slammed. If you look at it in that perspective, then yes, the stock market is definatly gambling. As V said, it has nothing to do with fundamentals anymore...only manipulation from the houses, and thats what makes this whole thing a gamble. It's getting to the point where you really dont know what companies to invest in. You can look over the numbers and ta all day long. It doesnt mean squat anymore. If the houses want to praise a dog thats losing money and trash the real winners, there aint nothing we can do about it....it turns this into a game of luck.
Just some thoughts
Keith |
