Gongo,
<<Well I dont know what everyone else heard, but I heard 2 qtrs, thats 6 months, which is the time the market is suppose to start reacting to recovery>>
I heard the "hope" word in those comments, much the same as INTC's report a couple of weeks ago. Why don't I believe these guys? No hard evidence, and meanwhile all economic and industry reports continue to show the conditions have not bottomed. That's not to say they won't, but just that there is no solid indication of that. In my opinion, even if conditions have bottomed, the valuations on the majority of these companies is still completely out of whack. In this fantasy land, that won't stop them from going up more, but I think it will only set up a harder fall sometime later. You posted that you've taken a long position, and I really do wish you well with that, but just be careful out there.
Good luck,
JP |
