I held. It took all the stones I could muster.
JakeSki- I know what you mean. It isn't easy when you have a drop like that. When it hit 150, I didn't think it could go lower. I kept saying that about 140, 130, and 120. Fortunately, I didn't have to say it one more time. It appears we hit bottom, and now it is time for ATHM to go upward and onward.
Yesterday I tried to start my lawn mower for the first time this spring. I did have old gas/oil in it. I know...bad move. I pulled and pulled and pulled to no avail. I had to empty out all the gas, change the spark plug, replace the filter, etc. Things I should have done in the first place! Tonight, that mower should start on the first pull.
The Nasdaq, and mainly the tech/Internet stocks, were just like my mower. I hated to admit it, but so was ATHM. They were worn out from the run-up, had gotten ahead of themselves, and were in need of a correction (tune-up). Though I regretted seeing it take place, the sell off was good for the market. Analysts loved seeing the lagging stocks come forward for a change. This is the breadth the Street has been looking for. Let's hope it doesn't happen again for a long while!
Ed |
