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Technology Stocks : Seagate Technology
STX 288.13+0.9%Dec 16 4:00 PM EST
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To: Jacob Snyder who wrote (4142)11/19/1997 8:24:00 AM
From: jas cooper  Read Replies (2) of 7841
 
After last nights news, I am intending to reduce my SEG holdings as well. Unfortunately, that will be the intention of a number of people who have not already done so.

If I didn't need the capital gains offset, I'd hang on for a while longer. But this will offset lots of gains, it will reduce my margin to almost zero, and maybe the relief of not expecting an immediate rebound will give me some confidence to find some other investments.

I haven't learned any lessons. I thought I had good reasons to purchase SEG at higher prices, having realized some nice gains on the way up. Had the stock bounced up from 30 instead of continuing down, you would now be praising your own investment acumen.

I'm hoping that basic market confidence will return soon, so the decision on what to buy is not what will go up, but what will go up the most.

Thanks for your recent thoughts,

jas
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