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Technology Stocks : Altera
ALTR 53.61+1.3%Jul 7 5:00 PM EST
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To: Monkey Dart who wrote (345)7/21/1996 4:23:00 PM
From: A Kabili   of 2389
 
I just got back from vacation and I'm surprised I didn't see any
nasty notes like "told you so." Well, you guys were right about the
rally Thursday and Friday on Altera stock. We blew it big time.

Well, I sold my put options early Thursday morning when the stock
hit $32 1/2. I would think many people shorting ALTR would have already
covered by now (at least via some call options if not downright covering)

Well, I definitely got wacked with July puts!! I got out early enough
before I had substantial losses, but it was tough to take seeing that
I was up a substantial amount of money just a few days before! My
problem is I just don't know when to take profits and run.

Long term I still don't like Altera, and I think a lot of people are
going to get hurt again when this stock starts dropping again,
but for now it seems like it's on the rise and not wise to short.
We'll see what happens, but I think the long term prospects still
don't look good. I've got to think earnings won't be any better in
the 3Q no matter how much they yak about the backlog.

I was very surprised about the rebound in the technology market as a
whole. I was guessing that the nervous sentiment would last a while
but people seem to be diving into technology issues again.
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