Just asking. Tech stocks closed down almost 4 percent today (3.24 percent since Thursday), versus almost 7 percent for financial stocks. Google is only down 1.05 percent. Amazon is down 1.35 percent. But Apple is down 5.76 percent. And RIM is down 7 percent (Wall Street banks are a big customer).
Did anyone buy any tech stocks today?
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No, too early for bottom calling…just keep your money in the bank or under the mattress.
Make sure it’s a “good ans safe” bank.. if you know what i mean!
Good thing I didn’t!
not in front of the FED meeting tomorrow.
AKAM, INAP, LLNW…. Pick your favorite…
The internet isn’t getting any smaller, and video streaming will only increase…
Dream on. Maybe instead of showing a four day chart - as if that gives any indication of reality - take a good look at things over the last few years, especially as mapped to the time period when money was effectively free under the negative-interest foolishness of the Fed. We have a long, long way to go.
I am loading up on EMC at this point. I know this isn’t a stock form but you asked!
I see EMC going to $20/share in the next 3-6 months.
I feel the same way about VPXL!
If you base your trades on a 4 day chart you really need to quit trading.
100% a buying opportunity!
Not to be the token flamer, but what the hell does this have to do with Techcrunch? I’m interested in stocks as much as the next person, but this has nothing to do with the tech world. If you want worthless investing advice from the masses, ask google or yahoo finance forums. Yes, these tech stocks are down… but they are just reacting to the market… (lehman bros. etc) not the other way around. My 2 cents, you should probably invest more time in researching actual articles than working on your stock portfolio…
I would take the opportunity to buy more Apple stock as it fits my trading criteria. I like to keep a core position and build on it when a stock gets cheaper. As far as financial institutions, WFC is one of the best. Of course, I work for them so I’m a little biased.
Apple has significantly farther to fall. I went on the record that Oct $120 Puts were a good bet when the stock was trading at $170+ back on June 29th.
Read my reasons in my blog post:
http://blog.agoracom.com/2008/.....-good-bet/
Regards,
George
Napster up 86.03 %, from 1 dollar to 2+, thats called raising the dead. appears to be a great investment, proves when your down in the dumps theres alot of room for growth.
Napster is up because they just got bought by Best Buy, not because of anything they did.
But wait, this trading software I bought from the TV has a green light icon next to Napster. Their fundamentals are rock solid!
Nope, cash is king, for all of 2009 at this rate.
Yes, buying AAPL. Been buying AAPL since it was at $23, then a lot more at $90, and I buy more at every opportunity like this. In 10 years when AAPL is much, much higher than it is right now, are you going to really care whether your average price is $120, $140, $180? Anything below $200 and you’ll be glad you did it.
I love these daytraders on here though, really… funny stuff. Glad you have time to analyze candlesticks, cuphandles, dead cats bouncing, and all the rest. I prefer to pick a solid company with a solid product, bright future, and actually INVEST.
Michael,
I really think now is not the time to be calling a ‘bottom’ on tech stocks. You should well know many VCs are not at all happy that any chance of an IPO dissappeared last September as market liquidity began to evaporate nor will it return for quite some time.
Right now whether or not a tech stock is hot to trot will likely depend more on the health of the balance sheet. Any dividends that were likely to have been paid will probably be held back so as to minimise exposure to the cost of borrowing to enable those organisations to cover fixed costs let alone pursue a growth strategy.
Sure there’s going to be a few gems but those will get oversold in due course as investors become strained and need to pull down assets to maintain liquidity.
Last night I began sniffing around what might be worth a punt with a much different view to thinking tech… I read about funds in China, I spent little time researching stuff like the Matttews fund led by Richard Gao but I was certainly not looking to see who would be the next Arm or Autonomy though that might in part be due to the memory of what we had to suffer when the Internet bubble began to burst in late 2000.
The blood-letting has only just begun, there’s still the next round of mortgage defaults to take hold in 3-5 years and right now cash or more obviously gold/silver have been the flight to quality for the modest investor.
There have been a few comparisons of the state of the US banking system to that of the turmoil Japan’s banking system went through and we’ve seen what did and did not work in Japan - model those tech stocks to see who actually survived and grew amid stagflation if you must.
As one UK property tycoon aptly put it recently… you need to wait till the blood on the streets has dried and people have ceased discussing the events at a dinner party.
A more cynical person might posture the death of the American middle class has just begun but that all depends on whether Mccain or Obama is given the reins of the latest empire to fall during the 20th century.
TechCrunch is actually a synonym for WallstreetRumors
Oops sorry Michael, so used to reading your articles I did not realise it was Don’s.
This is a classic high school level immature response to a poor day in the stock market. This just proves again why tech bloggers should not comment on business and finance.
I really like the flame responses here. Don didn’t comment on stocks being at a bottom. He comment on percentages of loss and asked if anyone bought anything. Stop making the post more than what it is.
Yeah, this post is nothing. Don is still working hard on being the next Duncan.
Don: Here’s a tip: read an article somewhere and get the facts all wrong and then write about it for TC.
Non Depository Financials are still at risk. The best way to invest is to prepare for consolidation. There will be consolidation in the energy and financial sectors immediately, but not in the Tech sector just yet. As the Global economy weekens it will have an effect on the tech sector, but in the end, it could very well be Tech stocks are set to recover the fastest. Buy Quality….
20 year cycles people….not much more than that except real estate crashed first before stocks this time round
I added another 100 AAPL shares at 141. But I’ve been long AAPL for a while.
Well you know what they say, buy low, sell high…
I bought some GOOG today.
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I have lost all profit I got from Apple earlier this year. I would wait for Apple hit $130 to get some more. I think it bears short opportunity within short term, like 4 weeks. But this is just my take, you should do your own research.
Btw, for your fitness minded people (should be everyone), you should check out fitnesssocial.com
GOOG -> Closing @ $433.86, 52-wk low @ $406.38
EBAY -> Closing @ $22.00, 52-wk low @ $21.70
APPL -> Closing @ $140.26, 52-wk low @ $115.44
AMZN -> Closing @ $77.34 52-wk low @$61.20
So, not looking good if you plan to hold. But you might make a few bucks if you sell quickly. But after taxes and the heart medication, i’m not sure if that’s worth while.
About the IPO comments. If your company is in such a state that your investors can’t wait to unload your company in an IPO, then you should think twice about having an IPO.
I agree that it is a buying opportunity, but too early to go in.
AAPL at current levels is a good buy until January 2009. For the past 3 years, Apple’s stock has dropped in September, only to rise ~20% by mid January. The reasons are more than technical….
1 - Holiday season means huge sales.
2 - Apple has 2 big announcements coming, a - the company’s 4th Quarter results due by year end, b - the company’s annual event @ Moscone center.
3 - Apple lowered guidance for Q4 and the stock plummeted. By September, the lowered guidance value has already got reflected in the stock.
4 - Moscone Center involves hype and AAPL stock reacts positively to the hype.
5 - Russia and China are going to end up selling iPhones by year end. Expect that to have bump in sales.
6 - App store is on track to touch 1B+ mark at faster rate than iTunes.
For the nervous investor, buy the AAPL $230+ options with Jan 2009 expiration - they are cheap ~ < $1 (or < $100) at risk…. but they have lot of upside….
-ANurag
Don touch any stocks now…not a good time.
http://astore.amazon.com/excity-20
Might I suggest that if you are looking to buy stocks, of any kind, that you get advice from a place that understands stock pricing…Just because stocks got hit, does not mean they are in buy territory. Patience friends, it is going to get worse….
On Friday, my broker at Lehman said to wait. Today he didn’t return my calls…
har har. nice one.
Buying opportunity … Now that’s rich! Ya , I bought some to close out my short position.
I like APPL as well 220 in 2009.
Not sure why everyone thinks there are “experts” in picking stocks. Look at the “experts” at Lehman, Fannie, Freddie, Bear, AIG, etc.
There is no doubt that tech stocks are more attractive today than they were 1 year ago. The long-term fundamentals have not changed but the Nasdaq 100 is down from a 52 week high of 55 to 42 today. Buy low, sell high. Are we at a bottom, probably not, but who knows.
If you want to invest in tech, I’d recommend the Nasdaq 100 as the way to go. It tracks the top 100 companies on the Nasdaq, is highly liquid, and as an ETF you can buy and sell it like a stock and pay virtually no management fees. QQQQ also has a very liquid options market.
*ALL* simple investing strategies such as this DO NOT WORK. You never know when a stock has ‘bottomed-out’ (unless you have information that other people don’t - since all known information is already priced in) until it has risen to a certain level - by which point it’s not much use anyway because it’s simply hindsight. If you make money by buying low without knowing something that someone else does not, then you are either a genius (unlikely) or just plain lucky!
Read:
http://www.fooledbyrandomness.com/
i agree
i would hold on for a while