Tuesday, October 28, 2008

Skepticism and the rally

Today's 10% rally was impressive, but few are expecting any follow through. Perhaps that type of doubt is what's necessary to actually rally in a sustained manner. In any case, most of my holdings were up, including my purchases from yesterday. But the market has a way of making us look smart one day and foolish the next, so I'll wait for additional gains before feeling good about those buys. In specific company news, Alvarion (calls 2.7% of portfolio) announced an expansion of a European deployment, the type of small/mid range deal that has been their mainstay. With the stock languishing, cash balances are now two thirds of the market cap, perhaps taking some risk out of the stock.