My problem is that given the current market, and the likelyhood that we will continue to see sharp declines in these stocks, it is getting very difficult to endure the daily losses from holding these stocks.
The declines don't bother me. I bought RBAK at 72. I was somewhat unconvertible buying at 72, mainly b/c in April and March it was lower (the 55 range and happily bought 50 shares and sold at 170 ;)). That said, Redback is doing more in revenues and introduced a new product. I guess the real reason it doesn't bother me, is b/c i own some real dogs and they just continue to drop. So it's either hold my dogs or sell them and buy some SEBL, BRCM, QCOM, or JDSU. I rather lose money in JDSU then in CMRC.
But the IT slowdown, general market deterioration and economic malaise is leading to a very difficult investing climate.
It's not the end of the world. IT spending WILL CONTINUE. yes, believe it or not. Just started investing in 1999, but from what i heard, they were claiming Cisco's router sales would just fall of the planet in 1998 and no one would want routers anymore. How can we go into a depression when the DOW and the S&P are holding up?
The dot com bubble is gone and we'll feel the hang over, but with-in 1 year i'd expect IT spending to take off again. I mean, how many people in Asia are online? Probably a small percent. These people will need JDSU. They'll need CSCO, ect..
WOOOHOOOO...i bought BRCM at 78 and SDLI 148 this morning. Also bought like 6 shares of RBAK at 35.5 yesterday ;) My average price on SDLI is now 195...was really thinking about buying SEBL, but i hate making quick decisions.
That said, i'm expecting the worst. I'm going to expect us to retest the lows and hit 1800. If we don't retest the lows then i'm happy. If we do..well i was expecting it. ;)
btw, i'm emotionally dealing with stocks with high market caps. Having a hard time deciding if that's the best place for my money. Then again, everyone knew about INTC and MSFT in 1996, yet they continued to rise. Hopefully the same thing will happen for JDSU and QCOM. I start questioning my self when i begin to watch the stock market too much.
P.S. please no one claim that this is going to be one of the 10 best days of the year to be invested in the market. To early to claim that stat.. |
