I don't own JNIC, but I have been following because it has been acting so strong, the selling in it bothers me, smacks of pure panic. Why does this worry me? It doesn't take much to see investors panic selling, and the market getting away from the powers to be. I do not think it is wise to be foolhardy here. The market has been sold down so far, for so many days and the negative tone so wide disseminated now that when the selling is over with we will not get a rush to go higher. So, we will have time to enter into the market. So if must go in, do it in small trades only and be ready to take a lost. Remember, we really haven't seen any real panic yet, I mean real panic like a 400 on the naz drop, So far it's been somewhat of an orderly drop with a good reason behind it, slowing earnings, now if the election problem drags on, people will begin to get worried overseas, and it will feed on itself.
Greg |
