I know what I don't know. I have no idea when it'll happen (market upturn). I'll just patiently wait. The news of the last couple of months, has (mostly) convinced me that the bottom is in, the recession is going to be short and shallow (and not W-shaped). This isn't Japan 1990s, it isn't the 1930s, it's worse than 1990 or 1980, probably about the same as 1773-4. And the data points are piling up, that we are past the inflection point.
Most of the concern about accounting, is smoke, not fire. And most of the bad news is already out, IMO.
I'm using this downturn to add to my positions in EMC and QCOM. Have limit orders, for CSCO, TXN, others. About 35% cash, now. The Nas has just about retraced half it's upmove (from the 2001 low to the 1/02 high). I doubt we go too much lower, but I don't really know that either, so all my buys are in increments. Won't start using margin unless/if we take out the 2001 lows. |
