selling usu and elon for large gains... adding to avnx

out of ONXX added to avnx & ccur

The setup for FNSR continues to improve.

TERN.pk buyout rumors could help several portfolio holdings. SEAC ARRS CCUR

James -- this could be long discussion. Briefly, my own criteria I use P/B, PSR, P/cash
flow & P/Net Cash & Investments -- all on relative valuation basis by sector.

I prefer GARP to pure deep value but will have 20-50% of my portfolio invested in pure
deep value names. Even then I want to feel that there will be a resumption of Rev/Eps
growth at some point. Or some catalyst to get the shares moving.

For example, COMS was deep value, now more of GARP name. USU MRVC ONXX PWAV IKAN are deep
value. ARRS & FDRY are close and the rest are GARP.

For large cap names, AAPL was a classic deep value name until late 2004/2005. On my
relative criteria YHOO has been skirting the edge of deep value with their huge investment
portfolio & balance sheet strength.

Though INSP is classic deep value in that space, but lot of hair on that name.

If you don't think SPWR is grossly overvalued then CY is in the deep value realm and
certainly was their $5 ago or lower. I still feel CY is deep value name.

How do you define deep value?

fixed onxs to onxx -- typo

added ONXX & IDIX

Last edited on: 12-09-2006 11:38 am