frankly, i am just kind of numb right now. With my holdings being jdsu, extr, qcom, rmbs, ssti, sunw I have taken my worst one day beating ever......
And yes, it was a beating because I took RR's advice and bailed on my jdsu and extr march calls for a HUGE loss. My reasoning : to try and preserve capital. In this crazy market, who knows if I wake up tomorrow to see jdsu and extr in the $30's......I still own stock in both companies and may even sell some of that as well.
My biggest problem is consistantly mistiming the market. I try and buy on dips, or when it looks like we are technically breaking to the upside, but I consistantly get screwed.
Unfortunatley, my feelings of the otherday that the worst is over has changed. I now feel there is nothing to save this market and think it is going to be very tough to get any kind of decent rally, even in nov/dec. Folks say we have seen this time and time again, but I dont agree. Yes, we have seen plenty of corrections, but this year 2000 has been entirley different. I see way too many people ready to sell on any strength and way too many people selling out of fear. I just dont see how or what is going to enable us to sustain any kind of a real rally at this point.
Sure hope I am wrong......
keith |
