Have been toying with the idea of trimming my holdings
in INTC by 1/2 to 2/3 of total. Will really be tempted
if we see 80+ tomorrow.
Reasons:
1) Cant imagine that, regardless, of the number on Tuesday,
that the remainder of the year is going to be rosy in the least
due to asia, sub 1K PC, delay of Merced, etc, etc, etc.
Thus, expect that less bullish comments will be a problem.
2) Forward PE's for 99 are pushing 20, which has tended to
be near the high end.
3) Becoming increasingly convinced that the future lies
closer to 'the network is the machine' than to applications
demanding continuations of Moore's Law.
4) Asia could REALLY spread and delay this recovery talk for
a year or more.
5) Better use for my money, even considering the tax hit
(much of which I can probably take care of due to other
circumstances).
6) Fear (yes, I admit it) that the CPU is about to become
a commodity for large market segments.
Still long Intel, but ready to be rewarded for years of
patience.
J |
