Gilat satellite networks (GILTF) Message Board

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Technology Stocks : Gilat satellite networks (GILTF)

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To: Robert T. Quasius who wrote (322)	9/10/2001 9:54:25 PM
From: jfoley	Read Replies (1) of 350

The telecom sector is in a steep recession, and may not come out of it until late next year. Then why would you be buying? Why not short a sector that is going down? The housing sector is the next one to get hit. Bear markets take 90% of stocks down with them. Fundamentals mean nothing in a bear market. You recommended giltf before at a higher price and now you are underwater. Meanwhile I have been busy shorting other stocks based on technicals. More funds to invest? Well, you'd have more, but you were greedy and tried to catch the proverbial falling knife. This thing could go to 3 before its over. You could actually get out now before its too late. IBD says cut your losses at 8% and you'll still have 92% of your money left and only need a 9% gain on that to break even. If this goes to 5 youre screwed. you'll need a 100% gain from there to break even-assuming your buy was at 9-10.

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