I'm afraid I got caught up a bit on the valuations issue. Technology stocks no doubt have gone through a bear market but on a P/E ratio basis none of them have reached rock bottom pricing.
Instead of buying when I could have taken advantage of those prices that would have given me excellent gains I have been mostly shorting this year.
Fighting the trend fairly successfully does not make up for missing out on such a huge rally if I had been long.
But the question that remains in my mind is simply how long can technology stocks be afforded such a premium over the dependable earnings of blue chip type stocks?
Technology companies have by in large streamlined operations and are ready for a nice business led economic recovery. But where is that recovery?
How can these stocks continue to trade higher on hopes that it will finally take place? I just don't know.
Incidentally I was short LSI earlier today. Covered that for a nice gain. I am now long ALTR so I hope anyone reading this will realize that I am now, more than ever, willing to take what the market will give me on a short term basis.
Market Data 
Markets 
AI
