Buying these names here

The following is an additional list of names that we've been accumulating into this weakness: Cisco (symbol: CSCO), Intel (symbol: INTC), Ingram Micro (symbol: IM), Microsoft (symbol: MSFT), Lucent (symbol: LU), Overstock.com (symbol: OSTK), Autodesk (symbol: ADSK), Comverse Technology (symbol: CMVT), Compuware (symbol: CPWR), Broadcom (symbol: BRCM), Texas Instruments (symbol: TXN), and Motorola (symbol: MOT).

The stock market has had a very sharp pullback today from its peak however; the Semiconductors and the Small Caps are still in positive territory as we write. This is the type of internal strength that we were looking for the market to exhibit. It is extremely early to call for anything more than a good oversold bounce, but we are feeling slightly better about the market. The sharpness of this pullback is primarily a function of the thin volume due to seasonality.

Folks with cash hoards need to do something here or they risk kicking themselves when the market ultimately recovers. Remember cash is king as long as you are not afraid to use your advantage as it materializes. Slow and steady deployment is advantageous.

We are not willing to buy aggressively until the market exhibits more internal strength. Today is looking like a good start.

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