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Technology Stocks : American Power Conversion
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To: Joseph Francis Torti who wrote (1105)3/25/1997 9:46:00 AM
From: Gil Gilbertson   of 2574
 
Hello Joe, I have noticed you display an unwarranted amount of emotion for this business, a stock has no emotion, only the players do.
As we attempt to become effective traders, it is well to limit our deep
emotions to Saturday nite.
When the movement of a stock charts an ever increasing upward
pattern and then flies straight up like a satelite launch, then it is
prudent to consider selling in-the-money calls commensurate with the
degree of risk you might anticipate in a correction. The prime purpose of the move is Defensive, that is to protect your gains.
Example. I bought Apcc on calls that I converted. They were 7.5
calls purchased for about 1.62. When the stock hit 26, I sold the
March 15s on half my position and the Sept 25s on the other half. I bought back the March 15s when the stock hit 21 downside.
I am still short against the box on the Sept 25s which I review daily.
I see no excesses in the stock at this time and the fundamentals
look great. Unfortunately we must ride out this NASDAQ correction
while they hold a bargain sale on the leaders. It will pass as it always
has. Let the others get caught up in their emotions , you stay cool
and calculating and profit by the excesses of others. Emotion has
a high price........pardon me if I sound like a preacher , but I love this game and have since 1957 .....good trading to you ..Gil
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