I added a little today too.
I just love reading all the negative sentiment on the boards and in the business "news". Of course, I've been thinking we're near the bottom for quite some time now and I've been wrong the whole time, but the more negative things get, the better my attitude gets. Meanwhile, I HAVE been getting killed lately.
Did you mention owning LSI? Hope you're doing ok on that. I got out of that one around 16 or so, but still got flipped over and done dry. Should've dumped the rest of my chips at about the same time I sold that one. I ignored a big juicy sell signal and my Roth is down about 35% in the last two months. Of course, 35% just sounds like a lot of money. It's all pretty small in actual dollars, but still...
Anyway, I bought IRF, JDSU & ADCT today (don't ask me why I keep buying telecom - I just love the punishment). Thinking about INTC, BBY, AOL and KLIC, but thinking and doing are very distant cousins for me.
Good luck out there.
GOA, will you be going long anything soon?
Other than miners? nah. I am not a trader, at least not at this time and while I expect a "summer rally", I will not fight the larger trend.
I do still hold a few shares of a tiny speculative drug company. If I do go long other than miners, it will probably be there. But I think there is plenty of time before then as well.
At the time RCA radios were not in many homes, the value of it's stock price inflated with hopes of putting radios in every home one the product was priced right, (just took some time).
I don't believe that IRF is a speculative investment, just the opposite, they make money (and collect it) and they have fund and develop future products very well.
Maybe it is, maybe it isn't. We won't know what the earnings will be, until next year, and you put your chips on the table now.
A year ago the projected earnings were about $3.00 and everyone thought IRF was undervalued then and bought IRF up to the $60's and found out the hard way that they were wrong. Projected is just that--Projected.
One point to add to that:
RCA was purely a speculative player during the "pre-crash" time, and it's stock price did not recover until profits and dividends arrived.
This market will see the same.
IRF makes profits - once investors are done "repositioning" their holdings the market will turn.
Always trust the invisible hand of the market.
Laissez faire - All!!!