*AV*--The reason UTEK is not on my list is due to my current holdings that are being held and a rather large option position going out into the future. As much as I beleive in UTEK, I have come to the realization that it is a cyclical stock that is having trouble making a major breakout. Since past performance usually dictates future performance (and perception), UTEK may not be providing the growth potential (price performance) I would like to see at the present time.
In other words, I have decided to diversify slightly from UTEK. As of today I have reduce my long shares by 33% and backed them up with 50% of the equivalent amount of options. Specifically: NOV 30 (.UQTKF ), DEC 30 (.UQTLF ), and MAY 35 (.UQTEG ) so that IF UTEK does take off, I am covered. Keep in mind that UTEK is off from the 34 it recently achieved and was not eviscerated in the massive retracement in the techs. It lost a little but basically kept it head above water.
Therefore, it seems that it marches to the beat of a different market mentality. Once I see a change in this mentality, I will take it more seriously. Make no mistake about it, UTEK is one of my largest shareholdings still.
I backed away from DELL to support some other diversifications also. Remember that at these prices, the techs are just begging for some diversification on my part and building up some nice share positions in the likes of the PLAB, DPMI, NVLS, AMAT, etal for the next big move in the first part of calendar 1998.
Hope all is well with you and things are looking good for your investments.
Andrew |
