Extremely unlikely. I have a limit of 20% max in any equity. Currently, I'm about 7% EMC, 2% JDSU, and 11% CSCO. And, in addition, I've been systematically selling into strength. For instance, I recently sold over half my CSCO at $16.70 (all my highest-cost lots, sold at a modest profit).
In addition, I've decided to stop buying EMC. I have a limit order in, to buy one more lot, and then I will only sell into strength. If we get no rally to 14 (my breakeven point) by late in the year, I'll probably sell about half my holding, for a tax loss (I have a lot of cap gains for the year already, all ST). Of everything I've been buying, EMC has been the only big disappointment, both TA (no sign the downtrend is over), and FA (gross margins collapsing, shift away from SAN to NAS, NTAP making inroads into the Enterprise market, which EMC had owned).
CSCO and JDSU, I will still buy the dips, as previously stated.
I seem to be able to make money, being all long, even in a downtrending stock, by nimbly buying the dips (only the big ones), and selling the rallies. I'm going to do really well once the Bear Market is over (and it will, I promise, this year or the next or .........) |
