I think you have the right attitude. And hopefully the fed can help right the ship this coming week. It may still be listing but at least it won't be sinking and taking on any more water. Eventually the fails will be unfurled again and we can catch a breeze, then a wind.
Like you I've been listening to people moan and groan. The attitude I hear is that there's no sense cashing out here as most people see this market as very oversold. There's confidence that eventually these stocks will be worth a lot like. Buying CSCO around 20 for a longterm hold is fine. Others I'd consider are the biggest most powerful companies coming out of this crashing, the ones with the most cash, the recovery plays and the obvious takeover candidates.
Titans: GE, IBM, VZ, SBC, AOL-TW, NOK, MSFT
Cash: AAPL, COMS
Recovery plays: NT, LU, CSCO, EMC, ERICY, YHOO
Takeover targets: LOR, COMS, WCOM, FON, IFMX, YHOO
Or you can buy a tech-telco mutual fund.
Comparing this to 1929 however is going way too far. |
