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Hi Marty and All,
Alan Greenspan started it all. He wanted the Market to remain in a trading range as he contemplates whether to raise rates or not before the election campaign for next year begins. As a result every piece of otherwise good news is being interpreted as bad by the Bears as they cash in their paper profits. Throw in the not too bullish prospects for INTC, trade friction with Japan, and we have a scaled model of the crash of '87 which the financial commentators are too happy to see it repeated...
AMAT slid past the 20% Playing Field when it briefly touched 40 1/4---a 26% Dip from the All-time High of 54 3/16. In the past, I've intimated that if AMAT Dips 25% and stay there for several days ( without a bounce), the Dip could worsen to 30%, 50%, 60% or worse. We are bouncing---now at 41 3/4, so maybe AMAT is not indicating the start of the Bear Market yet...
My wife used to tell me that I'm a poor seller, that I let my holdings loss value 50 to 66% as the stock does its occasionall Dips. I was waiting for her , this morning, to tell me a word or two---but she said nothing. Maybe she realized I'm a sort of a ComeBack Kid that is at his best when down. With all my mistakes in investing, one thing that makes me "Rise Up with a Kick" is that I always manage to buy at seemly expensive prices that become bargain prices as time goes by...
Am I buying this time?...You bet! I'm a gambler, but unlike other gamblers, I win in the long run because I use Time as my Ally... |
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