t2,
It looks that things are getting worse pretty rapidly. NT already hit my target price. EMC, SUNW, ORCL, CSCO, and JDSU are within striking distances of my targets. I am very surprised or shocked that that these studs come down so quickly (I was expecting that it would take 2-3 quarters for things to get there). Be prepared for the worst. A 1973-74 scenario is almost certain and in this sitiation, cash is king.
I am not gonna lower my price targets any more. They can go much lower, but I do feel that in 2-3 years you have a decent chance of making some good returns from these levels. However, risks are very high and it's certainly possible that in some cases, you are on a river of no return.
BTW, I just cashed out my JDSU 17 1/2 puts with a pretty decent gains (400%+). The poor thing probably will test 15 soon but it's not worth putting any more.
However, it sure can go down to 10 before fall.
take care,
larry! |
