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Technology Stocks : MB Index of 20 Leading Semiconductor Equipment Stocks
AMAT 233.06+0.2%3:59 PM EDT
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To: Mason Barge who wrote (30)12/12/1997 7:59:00 PM
From: Yakov Lurye  Read Replies (1) of 50
 
Mason, after some soul-searching yesterday (actually early AM today)I'd finally decided to go with the flow. I had closed all my semi-equip positions except TER and CYMI around 9:45AM, the moment SOX started falling. Saved me some money, considering the closing numbers.

I am going to keep TER and CYMI, but I find your decision to move out of the sector fully understandable and well reasoned.

My obstinacy with adding long positions through the SOX downtrend did not hurt me - that is, my account balance is exactly the same as a month ago - but it ate away all my daytrading profits. My main assumption in expanding into additional semi-equips was the belief that SOX will not fall below 278 level that repeatedly provided support through Oct-Nov. Now I will have to reassess my plan.

Luckily for me, I have been fairly successful using real-time SOX data as a predictor for semi-equips short-term. This did help me to minimize the damage yesterday (although it took me about 15-20 minutes to make sure SOX is not going to reverse).

Meanwhile, I was really touched today checking my e-mail (didn't look at it yesterday) and getting your yesterday's morning warning. I'd seen your warning posts on CYMI thread and find it upsetting that instead of acknowledging your good intents, some people choose to attack you.

Regards,

Y.


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