Humbly agree, Blue, absolutely, regarding the Earl of Canpig, and attribute a HUGE part of what happened in the market yesterday, to him. But that's a whole long story, you know it, I know it, we all know it, yes it sucks, yes he sucks, and wherever he goes, I sure as hell won't go there.
As with all companies, two things are very important: Market Opportunity, of course, but above all - Management. Can't think of anything more important. Compare Earl of Canpig to Russell of Go2Net. I rest my case.
Now about GNET and the nets. The Haggle.com news came out yesterday morning, so, as much as I like the news, it's old news now, and won't do squat for the stock today or in the near future. Tomorrow's GNET earnings may do something for GNET, and the nets, but that remains to be seen.
A ton of margin calls out there, that's for sure, across the netland. (I don't do margin, so no calls here.) A lot of fear out there. Gonna be a slow climb back up, I think.
My strategy? Same as always. Have at least 50% cash, and trade only stocks I don't mind suddenly moving from the trade to the long hold category, which is where GNET just may end up for now, depending on tomorrow's earnings news, and the market sentiment. My long GNET shares are, of course, still way in the money. Only my trading shares are in the red.
I'll sit and watch today, I won't play. I need to get a feeling for where the scared people stand. I also need to get a feeling for approximately how much rotation out of the net sector is taking place among the institutions. ('Course not many institutions have GNET, but that doesn't mater, we all know the sector moves in lock-step, up and down.)
Only if GNET tanks a lot more, might I dip into my cash reserve, and get more, 'cause we all know the net's the future, and no matter where the net stock prices are now, they are likely to be higer, at some point down the line.
In times like these it's clear to me that one must have an investing discipline. I have my humble one, and it sure works for me. Allowed for calm yesterday and today, no matter the ouch. And, one must have a life outside the market. :-)
So, Blue, here I humbly sit, watching, learning, and yes, smiling. This is an opportunity, and it is FUN.
Just a question of timing for me, as to how I'll take advantage of it all.
So, happy Techriding, All, and above all . . .
matrix.simplenet.com
Cheers,
Svejk proofsheet.com |