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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Joe Stocks who wrote (40615)	6/13/2002 10:18:33 PM
From: BWAC	Respond to of 53068

The lower the better, especially once value has been identified, and cash is still available to scale in. I hope GLW and CIEN and AOL all go to $1 based solely on irrationally dismal trading sentiment and woes me worries. Wouldn't be the first time. Won't be the last time. That a position smells to high heaven before turning profitable. The trick is to buy low enough, that you have a fighting chance. IE leaving room in a sane valuation model for significant upside. EVEN if the insane pile in at the top lunatics never return to bid things up to excess levels. Newsflashes: Tech spending is cyclical. Capital Expenditure budgets are cyclical. Telecom spending has always been cyclical. Semiconductors have always been cyclical. Long Term Capital Appreciation prospects are important to some people. In some cases more important than the day to day trading profit. A losing Long Term position can be worked down 10 cents a flip if necessary. At some point, if your view is long term, it becomes ridiculous to flip anymore of those shares. As you have adjusted for any change in the valuation phobias or intial business climate judgment errors.