Hello Jimmy Schmidt.
First, I'm glad I made you LOL; we could all use a little humor (intentional or otherwise!).
Second, please forgive me if my post was not clear. What I have seen (which is certainly open to debate) is that whenever someone posts to this thread in a manner not sufficiently bullish, they are usually beaten over the head (sometimes nicely, sometimes not) with this sector's fundamentals.
IMVHO, this sector has not been driven by fundamentals for the past 2-3(?) months. Instead, we had more short term money arriving, then most (all?) of the short term money leaving, along with mutual fund profit-taking bonus-locking sector-rotating, plus the appearance of short sellers driven by the short term technicals. Believe me, I can't wait until most of these extraneous factors subside, and we return to a state driven by the fundamentals.
But, if one follows fundamentals only, then you need to either (a) invest and forget about the market until the fundamentals change; or (b) follow the market, but be tolerant of other legitimate investors who rely on other tools to make profits. Seems to me that a 20-30% decline in this sector despite great fundamentals undercuts ones ability/credibility to discuss the direction of the market if you rely on fundamentals only. Hell, if it can decline 30%, why not 20% more?
Finally, (assuming you are not a buy/hold investor), if one is willing to jump in when stocks are lower than the fundamentals woud indicate, shouldn't one be willing to jump out when the stock prices exceed those fundamental values? And how would one do that?
Here's hoping that we have the Mother-of-All-Rallies heading into the year-end.
Mike |
