Wow -- 80-90% of all tech stocks below $3! It's tough to disagree with you based on the list of stalwarts already there: semiconductors (ATML, PMCS, PWER, CRUS, AMD well almost -- give it a few days), the telecoms (NT, LU, CIEN, JDSU, and nearly every other one). How about SUNW? Man, a few years back, the very notion that this *could* occur would've incurred the wrath of ranting bulls everywhere.
However, I'm not yet ready to believe that this is anything more than a severe bear market. Accelerated and sustained for some obvious reasons such as
1. massive corporate fraud and coverup, that seems to get worse with every rock unturned
2. horrible economic conditions, lerching in and out of recession
3. the U.S. is on the brink of war with huge uncertainty
4. many others...
Should the market survive all of this, then one day we'll all be more bullish. And for good cause. However, I'm not holding my breath just yet. =:o]
BTW #1 - the current times are radically different from the crash of 1929. For one thing margin requirements are much higher now. This has a huge stabilizing effect on the market. Can you imagine conditions with at 10% maintenance requirement that wasn't enforced? Brokerages today are *not* afraid to sell out accounts that dip below minimum maintenance requirements for very long.
BTW #2 - I must be dizzy, since LSI looks like it's getting pretty cheap! Why is it that we're so manic driven? During the runups, we're so sure the markets will never drop significantly for a sustained downdraft. And during the down times the reverse is surely true. Neither seems to ring very true. |
