Wednesday, September 10, 2008

Not much of a bounce

After the recent thrashing in the market, some of my tech stocks are recovering, although modestly. The heavily sold oil drillers are still struggling to regain their footing, however. Until there is some evidence of stabilization in crude oil prices, the fear of a downturn may keep a lid on the drilling sector. In any case, valuations should draw some attention from value investors at some point. In this fearful environment, that could take several months or longer. Which is unfortunate for positions where I own calls instead of common stock, but worst case, I'll just push out my expiration dates to buy some more time for a recovery.