Kurt, while Doug's $2.00 estimate may seem a bit shocking, imagine the feeling of people who are not as interested in INVX as you and many of the other regulars on this thread. Basically, they see a storage industry in a downward spiral that may parallel the DRAM market. They may be wondering why anyone would ever risk putting money into any of these commodity businesses.
Perhaps when you look under the hood, you can see value that the normal investor isn't willing to look for, but in the end, share price is never based on value, but on supply and demand of stock. Of course, that gives you the title of value investor and that is probably the best long term profile.
My thinking is this. In the tech market, where is the hot stock? It would seem that in general, the whole group is down. Maybe this is a sign that things will get better, but who knows. I feel at some point, people will get bored waiting for the bottom and start buying on the feeling that Jan/Feb will be good. They'll look for old favorites that are badly down. Techs are to exciting to stay out of. Do you really want to own garbage companies and prison stocks?
Still, I feel that while most of the bad news must be out, it would still seem that we have a few more bad sessions before it gets better.
Best Regards,
Mark |
