re: Do you think it will hold?
I really don't know. It's amazing/unexpected, given the macro picture, that everything I own is up today, and was up last week.
I'm now holding 390 contracts of 2003s and 2004s, bought when the stock was between 11 and 6. I began selling when we hit 11, and I will lighten up more,in increments, at 13, 16, and 19. I'll buy more on later dips, depending on how much cash I raise in selling the rallies. If there are any more dips, that is. With each passing day, and another dose of the CNN horror show, and stocks drifting up, I get a little more certain that late September was panic selling, and it's over, and we won't see those prices again. The response to repeated horror is initial panic, and then gradually getting numb.
IMO, the statement by NTAP's CEO was not a casual, off-the-cuff comment. He is seeing a bottoming in business conditions. So are some of the semis, like TXN. Preliminary indications of 2002 semiequip capex are higher than expected. INTC saying they'll spend 6-6.75B in 2002 on capex, that means they expect a sharp rebound in demand by mid/late 2002. Others, like the telco-equips and their component-makers, they will probably take longer to see an upturn. I'm out of CSCO, and never bought any JDSU (didn't get to 5). Holding everything else. |
