Jim,
<You really should not be in a volatile stock like CSCC if you are going to crap your pants on every little downdraft! >
I'd like to suggest that this is not just a "little downdraft". It a H U G E momentum change. In early October of 1996, CSCC was over 90. It's now (4.5 months later) in the 20's. I think the story's over as the "darling" of Wall St.
Some folks have a right to be concerned if they were still in it, especially at this level from "way up there". PBHG Growth Fund owns (or owned) quite a bit of this, I think. Frankly, it's fallen faster and deeper than I personally thought it could, or should. But then, the market are brutally efficient (Note: I didn't say honest...)
I was going to try to "catch the falling knife" in the 30's. I never did, thought again, I didn't think it would get this low. Frankly, a lot of people didn't, as well, judging by some of the pain exhibited here. So...
There's might be lower risk now in the 20's, and potential for greater reward on the upside. Might be time for some nibbling, for a short term bounce. Let's see next week.
Good luck to all,
Steve |
