re: "Its still a bear market, repeat, repeat"
As of today, I'm roughly 35% cash, 65% long, no shorts. That is about where I said I'd be, months ago, if/when the Nas got to this level. We stalled at almost precisely my 50% target, off the panic-selling lows last Fall. I'm following my plan; doing everything incrementally. Still holding my lowest-cost shares and LEAPs: AMAT at 27.5 and 30, QCOM at 35 and 40, etc. With the rest, I'm just playing short-term games, and sitting patiently on cash.
Actually, I'm less sure now, that we are still in a Bear Market. I think last October was at least an intermediate low. The conference calls I've listened to, this earnings season, all seem to be saying, "the bottom is in". Consumers keep consuming. Consumers and the stock market have shrugged off 9/11 and Argentina and Enron and still-high valuations.
If AMAT hits 50, and we still seem to be in the flat middle part of this "U"-shaped cycle bottom, I'll think hard about selling some more. Haven't decided, yet, what I'll do. |
