Well, once again it has been proven that when everyone thinks in one direction things are doomed to go the other way! Yesterday, everyone (including myself) were so convinced today we will have a huge rally in the techs, and well, so far it has been anything but a rally (never mind the "huge" rally)!
By the same logic, can I conclude that because everyone is so pessimist about the stock market in light of the South East Asian probelms ( and especially with the techs, and especially with the semis), perhaps we are at the beginning of a real rally?!! Or the level of pessimism still needs to go much higher for this to happen. I saw some big hot shot fund manager who said he has sold all his techs and is now sitting on cash. And I am sure he probably is not alone! At some point these guys must start putting some of that money to work, and I only wished I knew when they feel like doing so, because I am also sitting on some cash which I feel terrible having it just sit there. Need to put it to work. Dont think I want to buy more of LSI because I have more shares of LSI than I ever thought would hold. Just bought some more ASND (which seems to have a slight upward movement but I know it will most likely go down again in the short term). I was going to buy back my AMAT shares today but it seems big guys are selling and the stock is headed for the $27 range (at which time I will buy again).
Duane, Mark The Trader, Dipy and E. Graphs, and others, any idea, suggestions as what should one do right now?! This is certainly one strange, odd period of time (as far as investment - or heck even trading - is concerned).
Regards,
Addi Jamshidi |
