At this point in the year I am resigned to erring on the side of caution. If then a sharp downtrend doesn't occur I'll end up buying at normal range prices.
If there is interest in investments other than sbux, take a look at csco and lu and see what you think. I am watching these myself. GE is a personal favorite and a stock I would really love to own. If you like mutual funds, take a look too at the AIM Value fund (another favorite on my shopping list).
Pharmacuticals have been in an extended downtrend and if I were not already overly invested in this area I would have definately added shares when mrk was down to nearly 60. I'm always hearing something about biochemicals but not being much of a risk taker, I'd just as soon let the big companies make these deals for me.
I have a hard time taking an interest in financials but only for lack of being better disciplined. It is however a sector that seems to hold continued appeal among brokers and market commentators.
A small cap that I currently own and really like is vsio. As far as I can tell, it appeals to both long and short term traders. Personally, I think it's a really good company with a promising future but as with all stocks and sectors mentioned, I am not making recommendations - just sharing my preferences.
Currently I do not have a position on sbux and am maintaining a stock watch. If panic is starting to set in, then please at least take a long walk before making any decisions. Talk to someone too, ideally someone who can be objective about your emotions and your investment. If you are considering changes don't forget to look at your portfolio as a whole.
Regarding y2k meltdown, I'm not quite sure how to deal with this one other than to keep it removed from lingering thoughts. Even then I try to keep it on a abstract plane. I am also one to pray for the higher