Warren Buffett says, " Where others panic, you have to be greedy and where others are greedy, you have to be fearful". But he has hundreds of billions to invest, and we don't. So don't be greedy yet.

Right now, cash is king, and don't even give that a second thought. After seeing what happened over the last month, where the lifespan of a market rally fell to a session from a span of 3 days, it is best to sit on your cash and wait for the opportunities to come flood you.

The subscription-music site Rhapsody (owned by RealNetworks (RNWK)) on Monday said it will start selling unprotected songs online as it tries to drum up sales and challenge the dominance of Apple Inc. (AAPL) and its popular iTunes service. Rhapsody previously offered consumers access to its library of 5 million songs for a monthly fee, but its service does not work on Apple's iPod. It also sold songs individually, though the music was encoded with anti-piracy DRM software. Under its new strategy, Rhapsody will sell music in an unprotected MP3 format and those songs will now be playable on an iPod or iPhone. The music will be compressed at a variable rate of 256 kilobits - double the rate used by iTunes for its DRM-encoded songs

There are many reasons why this move will have little or no effect on iTunes. Let us analyze the $15-a-month subscription service. Music subscriptions are a really bad idea, because no one wants to be locked into a monthly fee or a contract.

Research In Motion (RIMM), the maker of Blackberry devices, released its First quarter earnings Wednesday (June 25). The company reported revenues of $2.24 billion, up 107% from the year-earlier period. And it generated $483 million in net income, or 84¢ a share, compared with net income of $223 million in the same quarter last year, or 39¢ a share.

It also said that wireless operators added 2.3 million new BlackBerry subscribers in the quarter, bringing its industry-leading total in the smartphone market to more than 16 million subscribers. RIMM is ramping up its investments to capture more market share, with operating costs rising 22%, instead of the expected 17%. Also, analysts were expecting the company to report $2.27 billion in revenue, and 85¢ a share in net income, which the company missed.

I think Yahoo Finance should have a disclaimer on its website that says "For weak hearts only", and before anyone attempts to buy a stock, the same message should be shown. The stock market has become too volatile to handle for many people, including me.

Here's how my portfolio performed this past week, just as an indication of how things were, and FYI, I am 30% short and 70% long.

On November 7th, 2007 after the closing bell, First Solar (FSLR) reported earnings for Q3 of financial year 2007. The company's earnings were solid, growing almost ten fold from the previous year to 58 cents per share. Meanwhile, revenue nearly quadrupled to $159 million. It was interesting to note, and the vast difference in net incomes was due to adjustments for stock offerings by the company last year.

Investors cheered the results, sending the already high-flying stock past $200 after-hours, and to levels as high as $230 Thursday morning. Now, this stock was at $20 at IPO, and it has almost gone up 1100% in an year. Talk about a bubble here.

Crocs (CROX), which makes the ultra-comfortable specialty footwear, reported earnings Wednesday after-hours (see conference call transcript). Many of you have heard of the shoes, and probably even own them. If you've owned the stock though, it has been nothing short of a dream run.

The company reported revenues of $256.3 million, up a whopping 130% from the previous year, and net income of $56.5 million, or 66 cents a share, up from $21.5 million, or 25 cents a share a year ago. On the face of it, the earnings look spectacular. But the revenue fell 2 million short of analyst estimates, and the stock fell 20% Wednesday evening in after-hours trading.

If you're one of the many speculators who chose to invest in LDK Solar (LDK) instead of going with one of the more stable names like SunPower (SPWR), SunTech Power (STP) or First Solar(FSLR), then you're already in a deep state of shock. As if the false claims of inventory against LSK Solar were not enough, the company is run by a bunch of people who have seemingly done nothing to curb the stock's massacre.

While all solar stocks are going up with rising oil prices, investors in this stock have been going through restless times, never knowing what the next bad news will be. Piper Jaffray downgraded the stock yesterday and there seems to be no end to the stock's decline.

It has been three weeks since Charley Situ, a former Financial Controller at LDK Solar (LDK), came out with allegations that the company was exaggerating its inventory. A lot has been said since then, with the CFO categorically denying all those allegations and the company standing by its claims and ordering an independent audit by KPMG, the result of which is not yet clear.

Let's put the inventory issues aside for a minute. In the last one month, LDK Solar has signed contracts to supply wafers to Canadian Solar (CSIQ), Solarfun (SOLF), Chinalight and Taiwan's Mosel. All these contracts put together are valued at 1.64 billion US dollars. Now, if the claims of fraud were true, I would doubt any company would do business with LDK and get burned in the process.

I will not say this is deja vu and feels like 1999 all over again, because I was not into stocks at that time. Having said that, I do know what a bubble looks like, and it's what I see when I look at Salesforce.com's (CRM) stock price and key statistics.

Salesforce.com, inc. provides on-demand customer relationship management [CRM] services to businesses and industries worldwide. Its Apex platform allows customers and partners to customize and integrate Salesforce CRM applications or build new applications. The company also offers AppExchange, an online marketplace for on-demand applications.

Never before have I gotten such a rude shock in my short investing career. Last Wednesday, I noticed that solar wafer maker LDK Solar(LDK) was trading down 10% on no news. I have been following this company for a while now and realized that its growth prospects are immense, and a 10% drop was be the perfect opportunity to buy a few shares.

I bought at $62, and I thought I was doing well when I saw the stock at $65+. By the time I came back from a late lunch, I saw the stock tumble 20% to the 50s, on a Piper Jaffray report that a former financial controller had raised doubts about the company's inventories.

There was a time, a few years back, when anyone who talked about prospects of solar energy were dismissed as cult followers. In 2005, however, Cypress Semiconductor (CY) famously spun off its solar business, Sunpower (SPWR), which has seen its stock almost triple in value since 2005. That move caused a lot of investors to look at solar energy seriously for the first time. I was one of them, having followed SunTech Power (STP) very keenly over the last year.

Suntech Power engages in the design, development, manufacture, and marketing of photovoltaic [PV] cells and modules. It also provides PV system integration services in China. The company's products are used in various residential, commercial, industrial, and public utility applications for on-grid electricity generation, as well as for off-grid use, such as stand-alone lighting for street lamps, garden lamps, telecommunications relay stations, and mobile phone networks. It sells its products to solar distributors, engineering and design firms, and other energy product distributors, as well as installers, system integrators, property developers, and value-added resellers.

A quick look through my holdings shows that I am heavily invested in technology stocks, with names like Akamai (AKAM), Atheros (ATHR), Apple (AAPL) and Take Two Interactive (TTWO). While thinking of a long term play, which will diversify my portfolio and which has the potential to generate multifold returns, I stumbled upon Uranium Resources (URRE).

To give a little background on the company, Uranium Resources Inc. explores for, develops and mines uranium. It deals in the acquisition, exploration, development, and mining of uranium properties, using the in situ recovery or solution mining process. Its primary customers include utilities who utilize nuclear power to generate electricity.

Only Steve Jobs and the decision makers at Apple (AAPL) know the real reasons behind doing away with the 4 Gb version of the iPhone and slashing the high end version by $200. But to consumers like me and you, this sure is a big letdown, and has double impact on me since I am long AAPL.

Price cuts on consumer gadgets are not unusual. The iPod video, which I bought for $300 in 2005 and which had 30 Gb capacity, now sells for $300 for a 160 Gb hard drive. But its been more than 2 years since the iPod video came out, and the price difference you pay is the premium for being one of the very few who owned the product in the beginning. Infact its the same with any product. Cars, computers, TVs and the like. There's always a premium you have to pay for owning something when its a fashion. And we're willing to pay that.

I have owned RVBD for about a month, from the day they declared results. They blew past revenue estimates and made a profit for the first time since their IPO, which is within 6 months, and is an achievement.

However, their stock quite set off like a rocket because of their bad decision to announce a secondary on the same day as the results came out. The stock took quite a beating that day, falling almost 12%, mainly on fears that the secondary offering will dilute the number of shares available and bring down EPS, resulting in a share price decline.

The company's PBN products include protein peptide products series, which offers soypeptide tablets, milk powder, and coffee; compound bio-functional beverage series derived from honey products, marine plants, and natural herbs; vitamate oral liquid that strengthens the immune system and regulate blood lipids; and urinstopper capsule, which is used as a health supplement for children suffering from bed wetting and for middle-aged and elderly adults suffering from urinary incontinence.

American Oriental Bioengineering sells its products directly to retail stores, pharmacies, and hospitals, and to independent distributors. The company is headquartered in Harbin, China.

The 8k had the mention of a 1:10 reverse split, but that was likely when it was still at $1 - with the current interest of the stock, it would be more likely they may only see a 1:4 reverse split if that, but obviously something to watch for. From reviewing the 8k, the company saw revenue of 190.5million and net income of 11.5m net in 2005. That would have amounted to 0.35eps as a combined company with Bronze. The last reported quarter September 06 saw 38m in revenue and 2.95m net. As possible signs to come, the merger has also written in 'make good' provisions - min. 18.9m net from 2007 to be met, and then 23.5m for 2008.