Dear Action Alerts PLUS Subscriber, I fear AT&T Wireless (AWE:NYSE) is going to take off before I can build a sizable position. Sometimes it pays to ease into a stock because you can improve your cost basis, but I don't foresee many better buying opportunities in the near term.
With that in mind, I'm going to buy 5,000 AWE shares after you read this, doubling my total stake to 10,000 shares.
If I didn't already own 25,000 shares of JDS Uniphase (JDSU:Nasdaq) at a much lower price, I'd be a buyer here at $3.56. Everything is beginning to fall in place here: Industry demand is picking up once again and new CEO Kevin Kennedy is a great addition.
P.S. Conexant (CNXT:Nasdaq) is up nicely to $5.89 a share, on positive earnings guidance from Adtran (ADTN:Nasdaq), one of its closest competitors in many businesses. I think Conexant still has a lot of momentum behind it, and I don't want to sell any more stock at these levels..