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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (52907)	9/23/2001 2:41:39 PM
From: advocatedevil	Read Replies (1) \| Respond to of 70976

Mike - FWIW, I was in pretty good shape (portfolio wise) prior to the attacks. Unfortunately, I had just sold some zeros the Friday before and had converted the proceeds into a couple of mid-cap and small-cap funds. Those took a hit as well as all my other individual stock and stock fund holdings. Fortunately, I have a conservative long-term portfolio, so I didn't get hurt as bad as some. The switch reduced my bond and bond fund allocation to about 50% from about 60%. I was 100% cash in my short-term trading account, so I didn't get lucky with any of the short plays that I might normally be holding. Overall, the negative impact was relatively minimal. I'm now considering how best to play this new market. I plan to increase my long-term stock allocation, but I'm not yet set on the details. I'm thinking that I might convert another 10% from bonds to stocks very soon and then continue increasing the percentage throughout the remainder of the year. The market has changed and timing will be difficult. Current price levels, technicals, world events and October mutual fund selling will make it interesting over the near term. I still plan on buying back my 2000 AMAT shares. I was lucky I sold in the $40s. I was hoping to repurchase in the $30s, but I certainly didn't think I'd get an opportunity in the $20s during this cycle. I may buy back a partial position as soon as this week. BTW, I do not plan to change my trading or investing style as a result of recent events. I continue to believe that shorting is perfectly ethical and is in no way un-American as some folks claim. I also believe buying stocks solely as a political statement is foolish. If one wishes to support the U.S. economy, he/she should spend their money on goods and services instead. Well, I'm off to a picnic with the family. Talk at ya later. AdvocateDevil