It has no legs because it is a company and not an insect or animal of any particular species LOL. I think we are seeing the agoraphobia that typically precedes a recession. Hold out for another year to 18 months....you should be pleased. Recessions only last 6 to 9 months and we may be in it now. By the time they announce a recession, it is too late to get in....all this is factored in. Buy good companies when they are cheap and ride it out.
"Recessions only last 6 to 9 months and we may be in it now."
How can we be in a recession when we haven't had even 1 qtr of negative gdp? A recession is defined by 2 consecutive qtrs of negative gdp.Last time I checked Q4 gdp is still expected ~ 2.5%.The sky is falling recession mongers need to stop listening to the short sellers who make their money on bad news.
I'm not suggesting any kind of "top down" thinking. I'm primarily a fundamentalist. The point is NOT to worry about recessions,depressions,the fed or any of that other top down crap. Do you think that Joel Greenblatt lets the fed rule his thinking? If you let that kind of thinking get in your way you will surely make descisions based on fear. Just buy the good companies when they are dirt cheap. It takes time for markets to recognize good values and the patient are well rewarded. I'm not a nervous trader of any sort. HIMX is a great value and it will get recognized at some point. I don't believe it is a value trap. If you paid too much for it you are hurting. When it was at $6.00 it had a p/e of around 16.5, this was too high a p/e for it estimated growth.