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Technology Stocks : INTEL TRADER
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To: Berney who wrote (2061)3/8/1998 6:05:00 PM
From: Intel Trader  Read Replies (3) of 11051
 
Good afternoon DJ JT CALIFJK Berney and other gentlemen/ladies.

Not sure that I like this buy/hold stuff. So far my CPQ stock is receiving torpedo after torpedo after *I* thought *I* had launched the last torpedo -- hah!! Must let the strategy (to hold for a bit before I sell) to give it time to evaluate.

Here is my opinion once again, I'll send you a bill:

a. Our current market is priced for perfection. A 10 -20% correction can come with no notice, for a good reason, or no reason whatsoever. (Mutual funds appear to be getting into the gunslinger mode more often, ie more active in buying/selling than before-- mentioned somewhere, don't know, so sorry!)

b. Obvious point now: the 'puter business is becoming cyclical (at least I think so based on the charts).

c. Companies after last week must have had most of their bad news out (my opinion re CPQ CPU INTC).

d. Madness/share-price-depression should hit its high levels soon, maybe this week.

e. An analyst on CNBC mentioned that the market is now overvalued by about 20% (the OCT 87 crash for ex was overvalued by 50%).

My game plan:

1. Hang onto the CIEN main position for at least 5 points while trading another position during market strength in it from 40 - 44 range.

2. Hang onto CPQ for forever (at least until the price works its way back to my entry point -- heheh). Buy more if/when it approaches 20.

3. As Jury said, there is plenty of time to decide if/when the bottom has been reached (I also like the 1400 buy rule a lot).

4. Continue to pray : )

Best regards to all,

it
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