I’m following almost the exact same play…

I’m following almost the exact same playbook I’ve been outlining for the last year.  Despite the pullback they were already in, and despite the heart-wrenching tragedies and worrisome radiation threats from Japan, the broader stock markets have hung in there, down only 5-10%.  Meanwhile, many of my favorite “app revolution” stocks, some of which were up double and triple in recent months, have pulled back 10-20%.

But that recent action belies the fact that the smartphone/tablet/app revolutions are continuing fully apace.  People will still buy hundreds of millions more smartphones this year than they did last year and they’ll be using billions more apps next year than they did this year.  And in five years most of the 1.5-2 billion phones sold every year will app-enabled smartphones.  Hundreds of millions of units of tablets and other as-yet-undeveloped form-factors will be sold over the next handful of years up from about zero units moved two years ago.

I’ve been buying some Apple, Cisco, Corning, and Nuance and other stocks set to benefit from the huge growth.   I’ve been shorting some Lender Processing Services.  I’m trying to take advantage of the near-term price volatility to build a portfolio based upon the same theses I was operating on before Japan’s disasters because the fundamental theses haven’t changed.  Unless you were betting on nuculear energy or unless you were betting big on or against Japan or companies focused there, I would question whether you should change your thesis.