but why did you buy long ?
Because the problems FORE has are easy to fix. And when they fix them, and the market likes small/mid cap tech stocks again, it'll be too late.
In many respects, the "experts" are just as much in the dark as we are. With recent corrections, high P/E stocks have been slashed without regard to why their P/Es are high. Either the stocks who have been unjustly demolished will recover, or the stocks with unjustly high P/Es (like Gillette and Coca Cola) will correct farther, or both.
One must operate on the assumption that stocks will be higher in the future. The trick is to pick the ones that will benefit the most. If FORE makes $0.60 this year (which they should do easily), this stock is selling at about a PE of 18. Pretty cheap for a growing company.
Like I said, I've got a roof over my head, a box of spaghetti, and a stash. Just as yesterday's purchase at 15 turned out to be unfortunately timed, today's at 11 1/2 will prove beneficial as the month progresses.
With all this commotion, let's not forget that today begins LU's tax advantaged buying capability. Wonder what YURI would be worth at today's prices? Talk about bad timing... |
