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Strategies & Market Trends : Z PORTFOLIO

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To: Larry S. who wrote (3194)9/18/1999 8:31:00 AM
From: Ron McKinnon  Read Replies (1) of 11568
 
I'm basically comfortable with my positions in the Z right now

HLIT
the mo mo on this my have ended for now unless some new news comes out
plan is to cover 1000 in the low 120's and hold 500 for 112

MYG
a solid hold, maybe for a few months; will add some more soon; maybe here or on a 40ish buy stop
target 46-48

NITE
is totally busted right now; should have waited on it but such is life
it's possible that it could test 18-22 but I doubt it
will continue to add till up to about 5000-6000 shares
the world is downgrading it; no total panic bottom as yet but might come soon
this is a combo net/stock market/day trading play
P/E now in the teens
down on fears of lower trading volumes and the ECN's
my gut tells me next week will be the bottom, will see
initial target 34; longer term 40-50

PHCM
I wrote a while back that this short had an "easy" 50 points in it; 30 in the bag so far
for now I see a trading range of 120-150
for trading will short in the 140's; cover low 130's
hold a piece for the 50 point win (or more)

I still like the financial stocks a lot; will begin to build a basket of them soon
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