Jim,
I would be 1/4 invested here at VIX 44-45 if it had not been for 9/11/01 8:46 a.m., a point in time which changed all the parameters. Still, I'm watching the VIX for some sort of top to indicate a tradeable spot:
stockcharts.com[m,a]daclyymy[pb50!b200][vc60][iUb14!La12,26,9]
It doesn't look promising so far today. For the historians among us (and who is not an armchair historian these days?) the Naz just kissed 1488, when Christopher Columbus couldn't get funding for a bocadillo lunch in Spain (3 years after Joao II of Portugal said, "Nao").
I think the breach of 1500 is important, even intraday, but maybe our resident tea leaf fellow (Dabummer?) would deign to read the leaves or crack the scapula.
Here's a real mantra investors can use: read my lips, no Naz investing until the trend changes--numbers are irrelevant until that happens. The VIX shall show us the way, however.
Finally, Jim, don't feel too bad about being early with your tech picks; you've shown too much genius and generosity with all of us in your oil analysis. There are some great names on sale in the OSX world today, at what look like great prices. However, for those with memory, GW once sold for 67 cents a share, priced for bankruptcy, and the OSX bottomed at 45 or so, about a 44% drop from here.
Good luck to all,
Kb |
