Mark, bullish or bearish on any issue is almost irrelevant short term. The market is overly influential now and will dictate the course of all stock movement.
To answer your question indirectly, I am somewhat bullish on Nextel because they are "beating" expectations. By that I mean they seem to progressing faster than pro-forma. This is an industry that should be somewhat immune from global turmoil, both economical and political. However, I am very bearish on the overall market, especially considering that a round of earning revisions, downward, has to be forthcoming for all multi-national companies.
Without strong and accelerating earnings, the bull run cannot be sustained. Whether it is a true bear market or just the bull market taking a break, who knows?
I am already in more cash than normal. Right now I am debating whether to sell more or used covered calls as a hedge, or both. This of course includes my strategy on Nextel.
Ramsey |
