George,
I lump NT and ERICY into the same category: yes, they're getting their respective butts whupped by LU and NOK.A, but they're also 100 years old, so how can you justify not owning them if you play the telecom area? So of course it's a buying opportunity. We'll probably (I hope) get a bounce back tomorrow for short-term traders, and for us long-term longs, of course it's a buying opportunity. It could go lower, but over time it will go higher. I'd watch the market carefully; if it looks like the market is unquestionably rallying, with a really strong move, then jump in. If we continue in this range, then wait and maybe we'll test $40 in the final hour. We all know the 52 week low, so I'd say we can definitely expect a bounce in the 39 3/4 range. I'm going to bet on a recovery later today, because that has been the market's pattern since Sept. 1. Happy trading!
Paul |
