It is difficult to focus on buying stocks when most of our holdings are taking a beating. On July 11 (as noted in this blog) there were some signs of weakness in the markets, three weeks later we are experiencing wild swings of the indices and no end in sight.
Possibly one big "dive" in stock prices in the near future may cause many investors to panic, willing and unwilling sellers will exit their long positions, and then we could resume a longer term bull market.
Holding at near a 12 month low, Axcelis Technologies Inc. (ACLS), selling today at 5.68, looks like it may start to make a base.
Axcelis Technologies, Inc. designs, manufactures, and services ion implantation, dry strip, thermal processing, and curing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia.
ACLS trades an average of 1.3 million shares per day, a projected P/E of about 16, holdings by funds increased in the past weeks, number of funds owning the stock have consistently gone up for the last 4 quarters and a fairly low book value make this company interesting enough for us to take notice.