I am not "really apologizing" for the general call last week to get back into the "bear suit", the apology was for a "missed call" for a late afternoon short covering rally(I expected a bounce to 1740 that did not materialize), that was the error. I am still firmly in the bear camp despite an expected bounce to form a weak double top in the next week or so. It seems that the Nov 7th date will work pretty well within 2 days, from where I am looking right now. Because I added few positions today (and missed a sell on BEAV where I have a double position), I am a little lighter in cash (38%) that I wanted here. Luckily, except IDPH, those new positions are "not hurting" that much. Actually, despite the less than "brilliant" excursions today into the Q, I made money (not much, but better than a loss) on each one of them, cushioning well the loss in the other entries that are slightly down. HAUP continuing its drive up is helping a lot as well (g). My problem is that I'll not be here tomorrow morning, and I guess that between 10:30 and $11:30 we will have some good buying opportunity, so I have just put in some "outrageous bids" here, and some may want to look at these and see if it makes sense for them:
BRCD $21.40, BRCM $31.10, QLGC $35.60, EMLX $22.90, JNPR $20.90 for the Q and CHKP at $27.10, QCOM at $49.70, MERQ at $23.40, EXTR at $9.10 and BEAS at $11.10. Also have OB for VECO at $23.10, MU at $21.15 and CCMP at $60.67. I don't expect many of these to fill, and if they do, there is a good chance they continue down for a little while, but I really think we bounce back, at least lightly, no later then Wednesday, and could be as early as tomorrow around 11:30, thus the short term deployment strategy.
Zeev |
