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Technology Stocks : Amati - MAIN THREAD
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To: Steven Hollis who wrote (658)7/12/1996 9:07:00 AM
From: Jim Roof   of 700
 
Steve:

Darn good question. I have lost a good portion of this year's gains in the last month or so and wish like everything I had done what I was tempted to do after I was up for a good yearly gain - CASH!

I think earnings are the problem and its sort of piling on right now. Also, a number of major issues appear to have topped out (INTC & MSFT & others) and this will bring the market down probably even more as these will probably continue to lose ground.

I am not into much in the tech sector right now - most of my presence here has been from the short side. The only two long tech issues I have are in telecommunications, other holdings in Biotechs - they have been down a good bit to and me with them.

Probably I will watch very closely and may make good on my threat to pull some cash out and sit on the sidelines looking for special opportunities. In hindsight, I have had an inclination to be fully invested and many of my losses I can chalk up to this incorrect outlook. So, when I close out a deal I will be much less inclined to throw myself on this market. I will look forward to the day when the market's direction is clear. At this point, with the exception of my retirement account (no margin trading here), I would like to see a full-blown bear market so I could stop all this guessing. I suspect we may be turning the top or at least very close.

Then again, this market has surprised a lot of people.

I'm sure this helps a lot! :?)

Better trading today (I hope),

Jim
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