I play short often because that is my specialty but I do make long trades as well.
Techs oversold? By what standard? The fact that they haven't gained another 20% since a week ago? That's the kind of blind ignorance that got the index to 5000 in the first place, and has now led to the tech bubble bursting, over half a million people without jobs so far, and a credit problem that is busting at the seams. Sorry, but one company like IBM doesn't change my outlook as I like to look at the bigger picture about what is going on and there is nothing to stop them from changing their outlook in 6 weeks because things have not played out as anticipated. If you bother to look at the numbers, the only reason the large caps such as INTC, MSFT, IBM and such can make their numbers is because of investment income where the companies are writing options on their own stock. Look at the core sales numbers and many of them are going down. I do not consider this a healthy environment.
It seems like you're looking for that 20% gain every 2 weeks like every other sheep as if it's a right and these stock are supposed to be valued at the extreme levels they're at and then some. If you're playing these long for the short term, great, I hope you make some money, but long term the economy has some major problems which are building and the end result won't be good. There is not an ounce of evidence you can provide me to prove otherwise.
Ever thought that maybe these stocks lost 80% of their value because they really belong there? |
