I'm quite encouraged by today's action.
In particular, I am encouraged that NTAP is showing relative strength, compared to the Nasdaq, and compared to EMC.
for 4 months after the 10/00 NTAP peak, NTAP underperformed EMC and the Nas: siliconinvestor.com
However, since then, NTAP has performed with the market, and done much better than EMC. It looks to me like, if the Nas retests the April lows, NTAP may not set new lows, while EMC will.
My plan, at the moment, is to hold my current position (bought at 13 and 11), and add to it in increments beginning at 10, and (smaller $ amounts) in 1-point increments on down to 5. If my buy-points aren't reached by the end of October, I may raise them a bit. A little bit.
On the last rally, I was too Exuberant, planning on lightening up beginning at 19, and the rally failed at 16. I will try to temper my Enthusiasm in the future, and be more realistic. Gotta watch out for the tendency, once I go long, to start seeing the stock through rose-coloured glasses.
Before logging on every morning, I need to chant:
IT'S STILL A BEAR MARKET
IT'S STILL A BEAR MARKET
IT'S STILL A BEAR MARKET
RALLIES WILL FAIL |
