On April 10th, i called every one to buy saas, especially ciber security stocks, and I said it was probably near the bottom if not the absolute bottom.
I bought panw crwd rubrik and msft. I also added many others.
My take at that time was ciber security is a subsector that can’t be replaced by vibe coding and needs AI identification detest etc..
So, from a hindsight, this is mostly right.
In the end of May, i sold most of those saas newly bought with good gains in the relief rally.
Currently, i‘m buying saas again with the profits made from the april buys.
My current take is this,
Adobe hit 9.9 PE today and it’s been a very long time since it’s avg 30 PE. CRM 17 P/E
checkpoint software 12 P/E and it didn’t even move when it announced amazon contract.
I personally think it’s time to grab a little bit especially single digit PE software comapnies.
the momentum of selling is fading.
today, checkpoint even increased from midday low to close.
zs check point didn’t even go near April low.
To me, they are right side transactions at this point. control your position.
i think it makes sense to trim some high fliers like glw, vrt and cien and use profits ONLY to buy single digit P(E saas stocks.
Anyways, sharing my thoughts on this.