Carl, things are rolling "according to plan" with the chips doing better then the equipment makers overall, but the equip have done better then I expected. Also, RMBS, which I mentioned in the 50' is also doing much better then I expected. Right now, however, I have a feeling that everyone is too rosy and the fear has disappeared, even the put call ratio has become tame, a perfect set up for a surprise downturn. I got out, probably prematurely to a 75% cash position about a week ago because I sense some excess overheating in this market right now. It might be too early (as usual) but it let's me sleep well. Some individual issues have made nice breakouts (like CCRD, ,RMBS, CSCO, ASND and INTC all favorites from two months ago), but I am getting back in in those on retrenchments (like XIRC which has retrenched more than 20% and, IMHO, is again ripe for a ride up).
Good luck out there, but I am using close by stops.
Zeev |
