tag:blogger.com,1999:blog-2335748440449035592.post9220514481882315077..comments2008-05-04T13:19:14.583-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2335748440449035592.post-72500469668624333432008-05-04T13:19:00.000-04:002008-05-04T13:19:00.000-04:00Hi Christmas. I owned PCX briefly when they spun off of BTU. I am just sticking with holding 4 names - they all move directionally together, it's just a matter of degree. PCX has been one of the best performers since it has been spun off. I have a 50-55 position long portfolio so I don't see a need to hold 6 names, when 4 will do. In fact when I added ANR I purposely deleted BTU. Otherwise I'd have 7-8 coal names. <BR/><BR/>As for tech I find very little long term secular growth there that can be sustained. Innovation happens so fast and furious and competition hits these smaller guys so fast. I had RVBD and BCSI for a while and even those guys got smashed in this market. For example I once held one of these small tech names who was a supplier to iPod - great growth story at early stage - then one day Apple decided to either switch supplier or take in house (I don't remember) and the stock is down 40% overnight. I just don't want that risk. SNCR is an example I believe of that today - they make the panels for iPhone. Could be a great story for another week, month, quarters, or years... who knows. But one Apple decision and the stock will be down 50% in an instant. I've held ANAD in the late 90s so I know that name well - you are basically buying cell phone growth yada yada. AMKR is nothing exciting, I know the name - its the best at what it does but you are just buying a "tech is back" trade with them. I don't know VLTR and the chart is looking strong. <BR/><BR/>Aside from a few opportunistic trades (i.e. refiners) I try to stick to companies that I can in theory go away for a year (gone fishing) and not come back to a stock down 60%... which almost any small or mid cap tech stock could be. Again, there is just so much competition and one technological leap frog and many of these smaller or medium fish are killed and not being a guy in the field, I would know last. Similar to why I don't buy biotech - people there who live, breath, and die only that 1 sector are caught with pants down 50% of the time. Too much risk, and mostly they just move with their sector as opposed to say an Apple or RIMM which have true innovation and true "not tied to their sector" type of growth.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-21559590429453520982008-05-03T15:24:00.000-04:002008-05-03T15:24:00.000-04:00ive been following your blog from what youve said about coal on Seeking Alpha, i definately agree with you here. Have you considered PCX lately? It made a new high friday with WLT. I think its superior to MEE and ANR as a CAAP region play.<BR/>As for tech, this is a sector i have generally avoided for a long time but ive recently bought ANAD, VLTR, and AMKR. All chips however i believe ANAD is arguably in a secular growth story with 3G despite what its chart indicates. VLTR is a very good product cycle situation, and AMKR nothing special here but its a breakout play over $12.50, very low PE, moves 2-3x the SOX index. I bought all these post earnings.christmasfernhttp://www.blogger.com/profile/08300579972025096742noreply@blogger.com