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Technology Stocks : USRX
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To: damniseedemons who wrote (12695)2/22/1997 6:21:00 PM
From: kevin sturgeon   of 18024
 
Sal, there was no way to know that INTC had bottomed at 49 3/4 - even in the mid 50's. The stock was in a down trend and you happened to be lucky and catch it when it didn't turn out to be a dead cat bounce or a bear trap. I remember those days pretty well and its amazing to me now all the people who claim to have bought at it at $50(many times its better to be lucky than skillful). However, I totally agree with your philosophy of waiting until stocks have technically broken the down trend - and established a new uptrend - until buying. God knows I have been guilty of averaging down on USRX here at 59 1/4 myself. I am just remembering the last time CSCO lost half its value in a panic selloff. By the time the networkers stock charts look like they have really turned back up you've lost a lot. This group is so volatile right now I've decided to trade with "gut instinct" and throw out the technicals. The close on friday really bothers me though - and if things remain poopy I'll be cutting many of my shares loose. Gut instincts can be expensive - but they are fun and can make you lots of money too. I don't believe we have a CSCC or SHVA thing going on here. I find good value down here - even if they miss a quarter or the analysts play word games. By the way, I'm not picking on you - you seem to have a really good natural feel for the market that is rare. Are you a technician or how do make consistent plays like exiting MOT at 68? Its pretty hard to do that on a fundamental basis - because you wouldn't have bought MOT in the first place.
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