<..SteveG, are you concerned with the recent sell off in Telecom?..>
As a trader of some telcos (who rides his winners), I sold NXLK last Thurs when it couldn't hold 36. I sold half my METNF in the 30s on the 11th, and the balance last week. I still own IIXC, TGO, ICGX, ENGSY, WCOM and WCII. I even bought CVUS last week as it bounced off 4 on good volume. I think someone may buy them, and in anticipation, $5+ would be a nice trade for me. (I probably bought some of Fink's shares. Or did he sell out at 3 3/8 <ggg>). And I looked at but missed ICIX.
I will trade (sell) all except WCII and WCOM, though I DID take some option trading profits on WCII last Friday, and am waiting perhaps to get into some LEAPs.
So I guess I'm not "concerned". Most I'll sell and two I'll keep regardless of the short term trend.
<..I wonder if it is just a long overdue correction/ buying op or the
beginning of lower valuations across the board...>
I think the former, but then I can only really speak for the two I've done more significant due diligence on.
<..what in your humble estimation is a solid entry point for a large a postion in WCOM?..>
I own it. I think it's on it's way to a double from here in ~12-18 months, and higher past that. Does it pull back? It's certainly conceivable that it retests it 50 day, though I think (like WCII) 40 is pretty good support. A LOT of people are looking to buy it near there, so I don't know how likely it trades there or below for long.
techstocks.com
<..Sorry to bother you in the midst of FinkGate...>
Please, pry us off this dead end discussion <1/2 g>
Steve |
