Warp:
"Can I ask you what you were doing with your investments when we went through this in March? Ditto for KB and the other bears? Did you board the NASDAQ train once it took off? Or stay out entirely."
My year in investing involved buying heavily some tech stocks right after Christmas and receiving the January surprise. I had nice profits in January and re-entered tech too early in February but stayed the course through to the April (or May) 2300 recovery. (I sold out the last of my driller positions early in the year, although I had sold most (UTI, PTEN, MRL, PDE) last year).) Then I sold out everything else and have been pretty much cash or short positions in various stocks (COST, COLM, NANO, KWK, PENG, PXD), long very few stocks (MO, KFT, PG) through a summer of traveling and basic lethargy. Since I haven't seen a VIX signal to reenter, I haven't had the urge. Still sitting on a bunch of cash.
Fast Eddy--you say you don't see a catalyst to take these stocks (Naz) any lower? Lower earnings, slowing economy, slack demand for PCs, no killer apps, telecom implosion, investor scarring, tax selling, tax selling, tax selling, mortgage default rates, failure of successive rate cuts to encourage businesses to increase capex.
You've got to find a catalyst or three in there to hang your hat on for further declines from here, imho.
Kb |
