*AV*-Actually it is just a dumb coincidence that this is #9300. I just wanted to drop a quick line to everyone to tell you that I am okay. This past month has been quite trying for me both personally and professionally. I can't believe I have been off the Stock Swap for close to a month but I guess it has been that long.
Hopefully within the next few days I will be all caught up. It was never my intention to be away for this extended period of time. I have been in phone contact with a few members of our community and they are fully aware of what has been happening. I have not even read SI for a few weeks, let alone our thread. Even this message will be brief until things settle down in a day or two.
1. Tomorrow is my last day at work.
2. The final separation package is unacceptable and was changed from the original committment.
3. I stand by the "stake in the ground" post with the stocks I mentioned. I will not try to brush that message aside.
4. My timing was off. It wasn't the first time nor will it be the last.
5. My portfolio was affected just as others have been. However, I have the staying power to wait out this storm and participate in the recovery.
6. I sold some stock at prices below their tops but no where near the present lows. I took some profits before they completely disintegrated but did not go completely to cash.
7. By virtue of buying puts and selling calls, I covered some of my stocks but not a great deal of them.
8. I have been buying stocks on the way down just as I have done in the past.
9. I wish I was in cash as of 10/1/97 such that I could buy back at blue light specials. If I were to guess, I was caught with 50% of my holdings.
10. I do not know when the carnage will be over but I am postive that it will come to an end. Holding on for the recovery is the smartest thing to do since it will happen.
11. The recent events were, for the most part, wholesale mayhem by the fund and money managers trying to lock in their performance bonuses for the year. And Yes, the Asia Crisis factors into this. But tomorrow is the last day for the professionals to wreak havoc for the rest of the year. The year ends tomorrow for these high priced and performance bonus driven individuals.
12. I stand behind every stock I have mentioned and make no excuses for the massive "derailed train". As long as you do not sell, you only have paper losses and miss out on the opportunity to purchase additional shares at bargain basement prices.
Finally, I am going on a buying spree again tomorrow and deplete my last resources to bargain hunting. If anyone protected their profits and took some when they were presented, you have an opportunity. Eventually this will turn around.
Where would one invest??? You need to decide for yourself since each person has their favorites or has followed a subst of what I talk about. As for me, I have decided to back the most conservative and solid Semiconductor stocks that could pay off in the near term but will definitely pay off in the long term. I have to give a list without explanations but see if you can see where I am coming from.
ASMLF-UTEK-DPMI-PLAB-WAFER-ATMID (1st tier commodities and 2nd tier equipment)
AMAT-NVLS-KLAC-KLIC-TER (1st tier equipment)
ASYT-CFMT-CYMI-IPEC-ADEX (enabling technology)
ATML-XLNX-IDTI-TQNT-INTC (IC manufacturers)
DELL-CPQ-WDC-QNTM-RDRT (Computer/peripheral sector)
If anyone feels like flaming me, be my guest. My timing was off but it never was my intention to set anyone up for a major kill in the market, as was insinuated by someone. My intentions have always been in the best interests of this community and will continue to be so. I have never asked for anything from anyone (except for finding a book) and am slightly perturbed at the insinuation that I might have set up the community for a major fall. If anything, I have been extremely vocal about protecting profits and taking them when presented. It would be easy to hide behind that shield but I won't. Furthermore, I am real aggravted with myself for not following my own advice on some of my stocks.
As of tomorrow, I have a great deal more free time to investigate stocks.(GG)
Andrew
BTW-I have been upfront with everyone relative to my pen name used on this thread. I have explained the reason behind the choice of my name. Now that I am no longer affiliated with my former company and for what it is worth, I will continue to use Andrew. What's in a name anyway.
Oh, yeah, for those that followed my Andrew Vance / Advanced Energy Saga, you might get a chuckle out of the $36 AEIS fall from grace to $20. Maybe a buying opportunity. Afterall, look at the poor slobs that bought the recent secondary offering at $31 only to find the stock at $20 today. Most of the shares were from insiders. A great deal of ground has to be made up. AEIS fortunes lie with LRCX, AMAT and maybe NVLS. |
