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Politics : Idea Of The Day
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To: Michael Rich who wrote (15418)12/10/1997 2:04:00 PM
From: Tom Trader  Read Replies (2) of 50167
 
Hi Michael re>>Can you share, roughly, at what SPX level (cash) your sell signal was triggered and at what level you will go flat? <<

The SPX had just broken below the 970 level when the signal was triggered on the futures--will go flat when I have a 40 point profit in the futures so if the futures and cash track, it should be at just below the 930 level. Will obviously reverse and go long if I get a buy signal before I go flat.

>>BTW, noticed you mention some semi-equip stocks show bottoming signs. Do you still hold the same opinion? I closed my AMAT puts and look to leg in some shares<

Yes I do think that there are divergences appearing that suggest that we may be close to having a bottom in place. As you know I have been expecting --hoping for-- one more decent down-draft--which I think that we are in the midst of right now. The risk is that we have situation arise a la ORCL and the sector takes a big hit. I have not bought any semi-equips yet but am looking and watching the sector closely. Will establish positions gradually--averaging into them if necessary. As an investment one needs to look at the situation a year or two out and assess the odds of doubling ones money as opposed to seeing it halved.

Let me know your thoughts on which stocks you like, please
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