Hi F.,
My long position has been exposed and at this point, is being laughed at as well! I started my investment with IDTI about a year and change ago at $9+. Through diligent risk management I was able to keep in the black until the price hit $7+ a few weeks ago. However, my lowest purchase price was $6-7/8 so far. Now it's time for me to take some hard earned cash and add to the long position one more time.
In reading the annual report, (yes, I'm semi-literate) I was very interested that so many products were described in at least as much detail as WinChip. I'm not that literate about semis, but it seems to me that although WinChip may be their Gourmet entre', there's plenty of Bread and Butter Chips available for profit sandwiches assuming the market for such stabilizes in the future.
The press seems to be as confused as everyone else about whether the Asian monetary and economic crisis will carry over to our market. I see that it has carried to our stock exchange in various ways. If you are invested in any of the top 50 to 100 stocks of the S&P, you've done quite well, seeing a ton of foreign dollars flowing into your equities. If you invest (as I do) in small caps, this flood of money missed by a mile. The only part of my portfolio that has done well recently is my mid-large cap mutual fund. It's been knocking over new highs on a very regular basis.
As far as sector rotations go, this is as brutal a slaying of the semi and tech stocks as I've seen since late '95. I can't believe that the pendulum got stuck and won't swing again. However, this pendulum seems to be longer than usual.
Best regards, Tom |
