Dabum-
Techland to me is still a technical trade since I don't know the businesses much, at all. In other words, I'm not one to judge how exposed one company is to the risk of product obselescence versus another, nor, for instance, the importance of the product line etc.
so, from that perspective, might opinions are merely TA oriented supplemented by what I can read from various analysts. However, I really don't have my own, confidently formulated, assesment of the business and its merits.
I'm working on it and it will come slowly (there is so much to learn). While that is happening, I'm happy watching the meltdown and have no reason to think that many of the stocks will hit the prices they were at two years ago (which were high even then). Assuming, of course, that they even survive.
I don't think there is any hurry here. Not long ago, I asked a broker why anyone would pay $2 million for a ho-hum 1500 square foot apt. in Manhattan. He looked me in the ey and quite seriously said: "Because they can!"
Well, the techies have had oodles of easy money raised for them and they used it with wild abandon. Now, they are going to have to pretend they are running a business, not a miracle. That doesn't happen over-night, IMO.
So, to answer your question- In techland, I'm looking at everything and buying nothing. In energy, I'm considering re-entering GRP, adding to PDE on dips, repurchasing some RRC, covering the SVB in MDR and possibly buying into PGO.
No rush on any of it, though. |
