The low for Sunw by the end of the year? Same as you I'm afraid, I always think the last big drop is the last one.
What I do, recognizing the futility of trying to hit the absolute bottom, which actually only one person will be able to do, is to average in. I started buying on the way down when we broke $40, on only 100 shares. Picked up another 400 on the way down to 11, on Friday, I picked up another 500 shares, and some 2004 22.5 leaps. If it drops below 10 I'm picking up 500 more and more 2004's. Below 5, and I sell my Intel and buy another 10,000. Below 2 and I sell my house. You get the idea. To me, this is a buying opportunity, and I'm grateful.
Sun is a brilliant company, and as sickened as I was by the 20% loss on Thursday, on reflection I agree whole heartedly with their ignoring the short term and focussing on the game plan. They have been the company most written off in the press and 'knowledgable' investors, but are emerging stronger and stronger through each crisis.
I'm in for the long haul. The only time I sell a company is when they change their mission statement. If ever Sun changes theirs from "The Network is the Computer", unless it is to something equivalent like "The Computer is the Network", bye bye.
P. |
