I think biotechs really are bottoming-out now.
Each day, sheep are fleeced and I have to
beleive smart buyers are loading up on tons
of cheap wool. A few buyers for all the little
sellers out there that are finally giving up.
I guess the losses into 2001 were fair--
after all, we newbies really had no idea
how carried away things got in the first
place. If my Genset could go from $6 to $60,
then collapse under a buck recently, only to
go out for $3, in a <cash> deal...well,
apparently Ms. Market does not value things
correctly at all, does she!
So how far have things overshot to the downside,
and what sort of a return can we get in the year
ahead? Ha, you tell me. I apparently suck at this.
Good luck! A few people are going to figure out a
way to make money at this in the months ahead,
maybe it will be you Dude. All I can say, is the
market is a real bitch sometimes...I have no
expectation that I can pick a good stock anymore.
I happen to be sitting at 20% stocks/rest cash,
and it is not very likely I will deploy what remains
from '99/00 into a sector that is damn tricky to
understand.
--Just another prospector, shivering in the icy water. |
