I've capitulated.
This year's action in the market has completely worn me out and I am through looking for the next great stock, trying to guess the next great sector, trying to guess the ideal time to buy or sell, etc. Once the NASDAQ dipped under 3100 and after JDSU beat earnings estimates and gave positive forward guidance in their conference call, I became fully invested and will remain so until March 2001.
I am holding what I feel are some of the best stocks in the strongest sectors, stocks with solid earnings and prospects. I do not know if they are fairly valued, overvalued, etc., and am through reading every other analyst or commentator debate this back and forth. I am through watching my stocks every day, trading in and out, nervously watching the computer. It is too stressful, time-consuming and not productive. I intend to hold my hand knowing that the "reasonable alternatives", stocks such as WMT, BBY, HD, C, etc., have also lost money this year. I am holding:
chip stocks: ADI, AMCC, BRCM, IDTI, PMCS, TXN
energy stocks: AES, CPN, DUK, DYN, NRG
Fiberoptics: CIEN, JDSU, GLW, NT
networking: CSCO, EXTR, JNPR, SUNW
CEMs: FLEX, JBL, SANM, SLR
storage: EMC, NTAP, VRTS
other: GMST, IRF, QCOM, SEBL
If it works, great. If it doesn't, it doesn't. Come next March, I will resort to the 3 R's: Raise cash, Re-evaluate, and Relax. I'm sure everyone on this thread has his or her idea of what to do, but I'm throwing in the towel with regard to picking the "stock de jour", second-guessing myself, etc. I WILL be quicker to take profits and will profit a bit more often.
Good luck with your investing. |
