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Strategies & Market Trends : APMP (formerly APM)
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To: kormac who wrote (8490)11/13/1997 2:00:00 AM
From: Richard Haugland  Read Replies (3) of 13456
 
Seppo, I cashed out at the same time on 90% of my remaining holdings at about 21 7/8 at the open the morning WDC announced along with my WDC and RDRT. Had it not been for Marc Chatman posting the WDC news early that morning on SI I would have been MUCH worse. Bad enough but to have held to today's close would have been a bigger disaster. APM is now down almost 50% from a day or two before earnings were announced. Its current P/E of 4.41 barely exceeds it earnings of 4.05/share. But then that is apparently all in the past.

The post of Marc on the banking situation in Asia was also scarey but believable. Also the post of AT referring to margin sellers on QNTM stock today makes sense. I bought SUNW at 36 1/4 a couple of days ago and it was barely above 31 today but I am mostly in cash now and for the next six weeks. Everything I have been buying recently has been turning to sh## so I decided to wait for some improvement, even if I miss the bottom. I am also going to avoid using any margin for some time. On my personal account for this year I have enough loss built up that with the $3000 limitation on deductibility in a single year (beyond capital gains) it should keep me to age 100 at least (assuming I never make capital gains, which seems like a fair assumption given my results this year).
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