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Technology Stocks : Elbit Vision Systems EVSNF

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To: Dan Ross who wrote (56)	1/12/1998 8:01:00 PM
From: Richard Spitzer	Read Replies (1) of 93

Dan, I'm sorry for your loss after only a few days, but congratulations for the fortitute to eat the loss and get out. I was in at 11 3/4 based on II recommendation and some outside research. When the stock hit my loss point of 9.4 (20 % loss) I tried to sell, but instead of just dumping at the market, I chased it down. I wound up getting out yesterday at 8 5/8 and today at 7 7/8. (This was independent of today's news.) I have since reread Chapter 9 of O'Neil's book "How to Make Money in Stocks" and have instituted new rules for getting out. They are: 50% out at 10% loss, 100% out at a further 10% loss. And sell at the market. This should guarantee that my maximum loss will be 14.5 percent (still too large a loss according to O'Neil, by the way). I plan on keepin EVSNF on the radar screen for possible future rebuy. PS - Those of you still in this or any other declining stock, you MUST read that chapter I referenced. I wish I had done so years ago - it would have saved me thousands of dollars. Good luck to all, Rich

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