Sorry for delay. Well the FNSR earnings weren't terrific, so the selloff is expected. I still like the telecommunication sector, so i will look over my position and determine my next. Well, first thing is first, I sold GIGM the dog today. The beating was just too much to bare any longer. The firm is worth $8 from numerous valuation metrics but I do not have to fight the market any longer on this. I will simply research other stocks and buy them to make money. FTK was rather weak but if you believe in oil, squeeze is forth coming. If you are risk adverse, feel free to sell now and take profit...nothing wrong with that because a breakout is not imminent; however, likely. ENTR looks good going forward as well...let's see if it will fill the gap.
As for the market, it seems as the rally is narrowing. We need to close above 950 to begin a new trading range and are having difficulty doing that. I have plenty of chips on the table but will scale out of positions in the next few weeks. The people want to take the market down and they may do it but I still believe in the thesis of supply and demand - which many funds are underowned in equities and have to buy and make money to make their 2nd Qtr.
I still like banks and home related stocks. Yet another analyst came out today and said BAC shares can triple - that makes two analysts now! I own some in one of my accounts but will buy it on dips. KEY is another one but I bought this week at $5.35ish and worst case I believe is $2 and best case is $15 - over a 24 month period. I wouldn't go all in on them but there is still some value, in my opinion. I will probably reduce my oil-related holdings and stick with tech and banks going forward. I will buy a AG stocks soon but want a dip (i hope i get it).
I'm off people, take it easy
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