Joe Giorgianni: The risk/reward ratio for buying tech stocks over the next 2-3 weeks is, IMHO, not favorable. If we hit NASDAQ 2200 or mid-January, whichever comes first, I will re-enter the techs more heavily. My hands are still scarred and bleeding from trying to catch the falling knife far too often. I still remember saying that CRUS was a steal at $28 and $AMAT a steal at $60, etc.,etc.
FWIW, I think several of the chip stocks and chip-equipment makers are particularly appealing. Just as they were the first to begin falling, I think they will be among the first to recover. AMAT, NVLS, CRUS, ELNT, IDTI all will be worth quite a bit more in 6-12 months. |
