>>> ...been watching TECD since the first drop into the 30's... indicators starting to turn - may buy a pile this week - how deep are you in? <<<
Hey Joe, Good to hear from you. I've been watching the major distributors for quite some time now. I own some MSEL, but that has been a real dog. If it doesn't do something this year, I'll probably use it to offset some cap-gains. I almost bought IM when it tracked TECD down, but I didn't want to get into the sector over my head.
I started buying TECD for the first time early last week around $22 and continued to purchase and average down throughout that day. I was stunned at the price. I made four significant purchases and ended up averaged out at around $21. I'm holding a much larger position than I originally was considering, however, opportunities like this don't come along often.
In any case, I figured that I could quickly sell back on the bounce, take some short-term gains, and refill my powder keg. So far, I'm holding everything, although I set some layered stops just in case this tech correction gets out of hand. I can't lose now. For the moment, I'm following a conservative plan to start taking profits around $30. Of course I'll be re-evaluating as we go.
Hope all is well with you and yours.
Regards - Dale |
