Wow! Just came back to the carnage. While unfortunately I do not short much, at least I was 98% flat except for a few shares in ELNT. Unbelievably bleak for longs who never sold. You gemmers did great! Congrats.
Lots of stocks now on the (eventual long) watch list: MRVC (new annual low), EXDS, FLEX, NT, SLR, BEAS, JDSU, MSFT, SUNW, CSCO, AMCC, NUFO, ELNT, etc. I guess I should stop letting the rich premiums in puts dissuade me from buying more of them. The Market is truly humbling. What a long way we have come (down) from the dot com exhuberance of a short 1-2 years ago.
A little more capitualtion still needed I guess, huh? Buying anything that does not comfortably beat earnings (like SLR did) seems stupid, doesn't it, unless one is counting on a rally when/if calmer heads rule here Wed. or Thurs. By the way, one really has to admire what SLR did! Incredible quarter and outlook in this environment. Pretty obvious it is a well run company.
I think I will go back out again for dinner with friends. It was a lot more fun than staying here I bet. |
