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Yes, BlackBerry Is a Buy

NEW YORK ( TheStreet) -- I'm not about to debate if Apple (AAPL) Google (GOOG) Microsoft (MSFT) and Nokia (NOK) have left BlackBerry (BBRY - Get Report) in full-blown panic mode. TheStreet's Richard Saintvilius and I have repeatedly warned investors for more than a year of the peril. BlackBerry resembles a headless monster more than a leading tech company.

I asked my 11-year-old the other day to describe the chart pattern, and he replied, "Oh, we don't want to buy that one."

TheStreet's Bret Kenwell, who has also nailed BlackBerry's downward move, recently asked the question many investors are also asking, Is BlackBerry a Buy Yet? Kenwell says no. However, for me it's deja vu all over again (hat tip to Yogi Berra). Allow me to explain why.

Picture, if you will, what happens to an overloaded canoe or rowboat when all the occupants decide at once they need to move to either the left or right side as far as they can. The end result is they all become wet. The same can be said about stocks, and if you've watched the market for even a few years you know what I mean.

BlackBerry investors are scrambling to move as fast as they can to one side of the boat, and they're wet from losses. You can't blame most for throwing in the towel. Collectively, Apple, Google, Microsoft, Nokia and others have understandably instilled so much fear that it actually appears logical to rush to the other side of the boat.

In my last J.C. Penney (JCP) piece, Time to Profit From J.C. Penney, I shifted from an unmistakably bearish view to a bullish outlook. Same with Alpha Natural Resources (ANR) Walter Energy (WLT) Cliffs Natural Resources (CLF) and others in Investors Signal Now's the Time to Buy Coal. When the facts change, so must your opinion to avoid membership within the investing mob moving continuously from side to side in the boat.

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