Hi Jeff,
I am definitely a believer in the "January effect" and if you were to look at some of my posts in early and mid December, I definitely indicated that the week between Christmas and New Years was likely be a good time to shop for bargains. I was kind of surprised that the selling continued all the way till the last possible day though.
I avoided the .coms because of cash flow concerns. I was not expecting the 50 basis point rate cut in early January. Given how slow Greenspan was to act in Nov and Dec, I was expecting 25 basis points in late January. So I'm guessing the larger than expected rate cut breathed new life in these "on death's door" .com stocks that they may otherwise not have had.
But I did buy FIBR, GWRX, HAUP, COVD, GLMC, TDFX -- all beaten down for the reasons you cited .... so I took positions in stuff ranging from .09 to $20+. I also took profits, lol. I didn't make a year's pay in the past 3 weeks .... just 3 months pay. What can I say -- I'm an under achiever. <g> DISCLAIMER: I also bought several that haven't done squat !
... my brother is more of a big cap guy so he bought EMC and SCMR ... and some options on them too.
Don't overlook the fact that the challenge for some of us is that we're kind of "busy" during market hours, lol, and real time trading chat rooms, and other ways to quickly share information and spot movers are not an option to us. Trust me, its a real disadvantage ! lol.
Regards,
Chris |
