Stocks Still Getting Pounded
I don't really mind when my stocks go down,
because for the most part I wasn't planning to sell them, anyway. But it's
still a little sad.Usually I take it
as an opportunity to buy more, at even better prices. I bought several things
recently:Fuel Tech (FTEK) ,
to replace the half I sold near its
peak.VolComm (VLCM),
which might sound like some high-tech company, but they make skating and surfing
clothing.TVI Corporation
(TVIN) , which makes chemical and biological decontamination
equipment. (It's my "profit from terrorism"
play.)Frozen Food Express
(FFEX) , which ships food around in refrigerated trucks.
A.D.A.M. (ADAM) ,
which helps healthcare providers have a web
presence.Will they make money? Heck,
I don't know. My faith in the dollar is limited right now, since our whole
country seems so darned stupid with money. But I figure holding a bunch of
dollars isn't a great hedge against the collapse of the dollar. I wish I could
think of something that's going to go up if the dollar goes down. (I don't like
gold, because it has little true intrinsic
value.)And while pretty much all of my
holdings went down, there was one that went up -- my short. If you remember, I
took a high-risk anti-movies play by buying put options in Regal Entertainment
(RGC) , knowing I'd lose my shirt if it went up, instead of down. It
went up. I lost my shirt. I bought more options for January, though -- I still
think the movie industry is in trouble, long term.
Filed Thu - August 3, 2006, 08:37 AM in
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