Market seeing red

The market has seen red for two days now and my account is back at even for the year. Am I changing anything? No, but I am eyeing more Sony (SNE) since it dropped back down to just over 40, but I told myself not to pick up any more until it crosses the 50 day moving average.

Why so much interest in Sony since it's at a two year low and under so much downward pressure? As I said before, the Blue-Ray win and the PS3 will finally start taking off. The biggest boost will be from Grand Theft Auto IV which will ship on April 29th. This is the first huge blockbuster title that will only be available on XBox360 and PS3. Meaning that if you want to play it, you need one or the other. Plenty of people have waited out the console war and want to play this game when it launches (me included) and I don't think the XBox360 is attractive any longer as a console. At least not to gamers like me. The fact that the PS3 also gets you into the next gen DVD (XBox 360 puts you in the HDDVD/betamax camp) is a huge incentive. I expect this single game to drive a lot of PS3 sales. You still have 20 more days to start accumulating SNE.

I was holding ERTS (Electronic Arts) for most of last year and finally sold it. I almost made some money on it if I just wouldn't have held it so long and taken my own advice and sold it in early January. I still think they have a lot of issues in moving forward. I just hope the TTWO deal doesn't go through because I want to reap the benefits of GTA4 sales, not have it lost on some red ERTS balance sheet. The longer TTWO is able to delay the ERTS take over attempt the better.

Also, AMD didn't go down today and remained steady. That tells me that it bottomed and at some point they'll get their groove back on and start selling some chips. To me, holding stocks that sit at their bottom is a lot better than holding something expensive that has a lot more capability to go down. It's sort of like stashing your money in the mattress, but at least it doesn't go down in value. Sometimes all I hope for is that things don't go down!