CORRECTION TO BUSH-RALLY
WEEKLY SUMMARY
The week ended up with less optimistic note as the market dived due to broad based profit taking. As if the market read my posting last night (where I plan to trim my ATY position), it whacked ATY by more than 6%, giving up all the gains yesterday and some more. Well, it is a high beta stock. In addition to profit taking, the news of INTC and NVDA licensing agreement provided additional negative vibe. (My first instinct was to sell before the opening at $23.9, which would have been the correct move. Got to trust those instinct, and avoid procrastinating). It frustrated my effort to sell on the way up, and I am rather determined not sell on the way down. As I understand, this event while positive to NVDA, is neutral to ATY, and therefore, I do not see the 6% decline as justified. The correction is not unexpected, after the recent BUSH-RALLY. Other than ATY, the balance of my portfolio is holding rather well. Overall, despite the disappointing last day of the week, it has been terrific two weeks since election as my portfolio racked up more than 5% of net gain. More importantly, I have taken the opportunity to get rid of quite a few deadwoods, replacing them with much better quality stocks.
The week ended up with less optimistic note as the market dived due to broad based profit taking. As if the market read my posting last night (where I plan to trim my ATY position), it whacked ATY by more than 6%, giving up all the gains yesterday and some more. Well, it is a high beta stock. In addition to profit taking, the news of INTC and NVDA licensing agreement provided additional negative vibe. (My first instinct was to sell before the opening at $23.9, which would have been the correct move. Got to trust those instinct, and avoid procrastinating). It frustrated my effort to sell on the way up, and I am rather determined not sell on the way down. As I understand, this event while positive to NVDA, is neutral to ATY, and therefore, I do not see the 6% decline as justified. The correction is not unexpected, after the recent BUSH-RALLY. Other than ATY, the balance of my portfolio is holding rather well. Overall, despite the disappointing last day of the week, it has been terrific two weeks since election as my portfolio racked up more than 5% of net gain. More importantly, I have taken the opportunity to get rid of quite a few deadwoods, replacing them with much better quality stocks.
posted by ZIGZAG at 11/19/2004 02:01:00 PM
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