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Technology Stocks : Vitesse Semiconductor
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To: sea_biscuit who wrote (4017)9/11/2001 8:25:28 PM
From: uu  Read Replies (1) of 4710
 
> know that analysts are a bunch of charlatans, you SOLD the stock. Is that right?

You are right about my feelings toward analysts for which they are nothing but a bunch of charlatans. As such I ignore them (i.e. do not act based on what they say nor act as a contaraion).

I have not sold my VTSS shares. For your info my average share price is at around $21/shr - therefore on this particular investment I am down by about 50%. I intend to double down sometime during the next few days/weeks. I am hoping my timing would be when the stock price is at worst within 15% of its bottom - and as far as I know I have no clue where the bottom for this stock is. There are lots of unknown economic, social and political factors involved at this time.

You say this stock is worth at best $3-$4/shr. That puts the company's valuations at around $600-$800 million. I hope you are wrong - but considering the current bear market and the market psychology you are most likely correct. If the stock gets to around $5/shr then I will increase my holding by about 500% trying to bring down my average share price to under $8/shr.
And I am willing to wait for a long time and hold on to the stock similar to my other stocks (all of which are high techs and down severely), and accumulate more (as much as my cash - and wife - let me do so). Next to LSI, VTSS is my biggest holding at this time.

As I stated I am now convinced beyond the shadow of any doubts that we are in a bear market (and in a severe recession - especially after todays tragic terrorist attacks). Consumer confidence will collaps horribly at a global level and that will strengthen a vicious economic recession at a global level.

I just hope - and let me emphsaize on the word hope that we are not in a secular bear maket.
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