Capitulation, I am laughing at you Zeev!!! YOU ARE DEAD WRONG!!!!
I respect you, but you are D E A D wrong with the long call.
You call last week capituation!!! It did not even come close. There is no fear out there, oversolds do not mean crap in this type of bear. Capitulation will be such a nasty day you will wish you were not long. What we have seen was a walk in the park - the market got off easy.
Good luck with your longs. Hope you are not holding many overnight.
As for AVCI, EPS of -1.75, who is buying their product, tell me - WCOM, GE, MONI, ALA, JDSU? BTY,DT, COLT, NTT, TEF and every telecom is fighting for its life and many will require gov bailouts next year - everyone of these could be BK before this is over, watch. A bounce maybe, but a long term hold, forget it.
So many people still do not GET IT, that is why I am not around SI much anymore. People have no CLUE what they are facing here. All I see is folks wanting to time the bottom, to get long, to bottom fish, to not miss a bargain. Very few get it. 500 is in the cards and even lower, would not be suprised to see 300 to 400 for the bottom.
All the best
West |
