I will admit that I think WDC is pretty close to the bottom of being oversold and should bounce at least 2+ points on the first up day in the techs. Now if more bad news comes out to tank the market in a panic, WDC might lose a few more points, but we are probably close to an equilibrium price. I am starting to consider a buy at this point back into WDC. I sold off ASND and COMS the day Oracle's bad news hit. That might be a mistake, might not, but in this environment, I want to pocket any profit, especially quick profit.
What I am currently watching is Oracle, EFII, CUBE, PAIR, COMS, ASND, AMAT just to name a few. At some point, seed planting will be called for. I still bet we haven't seen all the bad news for the 2nd quarter. Then I figure we will get a short bounce and then bad news on the 3rd quarter will start in. There are some longterm bargins starting to emerge. I just am not convinced that anyone sees the real impact to the global events clearly. We could be looking at the beginning of a severe correction or a bear trend that might last most of '98. For now, I am not buying anything. |
