Hi Wayne, I think your classic saying "All stocks are shit" applies here.
But to paraphrase George Orwell, "All stocks are shit, but some stocks are shittier than others". Maybe my phrase is the one people should post by their computers.
Money losing .coms, desperate for money, when no one will lend them any, sort of fall into the latter category. The lying CEO thing doesn't help much either.
A crazy day yesterday, for sure. The markets swinging around on changing election news. SBC, a local phone company , warning, BofA slamming Nortel .... IMO, Wall St. is really trying to exploit the gloom & doom to squeeze as many investors out as possible. I told you guys Oct. was gonna suck ! I just didn't count on Nov. being bad too, lol. At least we're seeing some OTCBB multi-baggers again. There were 3 this week that I knew of.
Not sure if this is gonna convince people to sell both their winners (lock in gains) and losers (offset gains) between now and end-of-year. IMO, unless a real recession is in the cards, we are closer to the bottom than the top. But I don't mind making 6% on most of what I have until I know for sure. <g> Maybe in a month there will be some even better short term bargains. Like JAKK or IMAX maybe ?
The NASDAQ weekly chart indicates very oversold, but still no clear sign that we have bottomed. And 3400 - 3500 looks like it could be tough to break with out an interest rate cut or some other good news.
siliconinvestor.com
Chris |
