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Strategies & Market Trends : Z PORTFOLIO

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To: Ron McKinnon who wrote (1606)	4/25/1998 4:51:00 PM
From: DanZ	Read Replies (1) of 11568

Weekly TA update on the Z's positions. APM Bought 4000 sh. 4/22 @ 10 13/16 Close 4/24 @ 11 Support @ 10 1/4 Resistance @ 12 1/4 and 13 Notes: APM held strong support at 10 this week after reporting worse than expected earnings. This is a bullish reaction and further leads me to believe that this stock has bottomed. APM also held support a few weeks ago when KMAG reported poor earnings. KMAG rallied after their poor earnings report and I think the entire disk drive sector has already discounted the bad news and has bottomed. WDC and RDRT closed above their upper bollinger bands last week and are the strongest in the group. SEG and QNTM also look very good but QNTM is the weakest in the group. Target: 12 to 12 1/4...might hold for 13 or more. Personal position: Bought @ 10 13/16 IRF Bought 2000 sh. 3/17 @ 12 1/2; bought 2000 sh. 3/31 @ 11 5/8 Close 4/24 @ 12 1/4 Support @ 10 1/2 Resistance @ 13 and 14 Notes: IRF ran into light profit taking near the upper daily bollinger band last week and pulled back. However, the pullback was on low volume and the stock never traded below the middle daily bollinger band. The stock closed above the middle weekly bollinger band and the weekly chart is now bullish. I think IRF will test resistance at 13 again and the weekly chart has a target of about 14. Target: 12 3/4 to 13, might be raised depending on how it trades Personal position: Bought at an average of 11 3/4 LNET Bought 2500 sh. 12/31 @ 11 Close 4/24 @ 12 1/4 Support @ 12 Resistance @ 12 1/2 and 17 Notes: LNET broke out on the daily chart 4/17 and followed through on 4/20 when it broke out on the weekly chart. The stock then pulled back and closed inside of the daily and weekly bollinger bands. The pullback was contained by the middle daily bollinger band and I'm still bullish on the stock. A close over 12 3/4 is needed to clear weekly resistance. Target: 14 1/2 (52 week high), may hold longer depending on how it trades Personal position: Bought at an average of 11 1/2 PAUH Bought 3000 sh. 1/6 @ 10; sold May 12.5 calls at 3/8 Close 4/24 @ 12 1/2 Support @ Resistance @ 11 3/4 and 13 3/4 Notes: PAUH traded through daily resistance at 11 3/4 last week and rallied all the way to a high of 14 on increasing and above average volume. It then pulled back on decreasing volume to 12 1/2. I'm still bullish on the stock and would buy it on a pullback to 11 1/2 to 11 3/4. I sold covered calls or would have sold the stock last week when it came back inside the daily bolliger bands. Personal position: Bought at 10; Sold May 12.5 calls at 3/8 T Bought 800 sh. 4/20 @ 64 5/8 Close 4/24 @ 62 5/16 Support @ 60 1/2 and 58 1/4 Resistance @ 62 3/8 and 68 Notes: T broke daily support on 4/21 when it closed below the lower daily bollinger band. It then gapped lower on 4/23 before finding support at 61. The stock rallied to close on the high last Friday-a positive sign. The stock is a hold now and a buy on a close over 62 1/2. Target: 68 Personal position: None VLSI Bought 2000 sh. 3/4 @ 19 1/8 Close 4/24 @ 20 3/16 Support @ 19 1/4 Resistance @ 21 and 24 Notes: VLSI had a very good week. It traded up to the upper daily bollinger band before pulling back to the middle daily bollinger band and then rallied on Friday. I'm very bullish on this stock and continue to believe that it will trade up to resistance on the weekly chart near 24. Target: 23 1/2 to 24 Personal position: Bought at an average of 19; sold May 20 calls at 1 1/16, covered at 13/16; sold again at 1 1/16. Looking to cover my short call position next week. Other stocks that look interesting: BAY looks good (sorry Larry). I would hold it with a target of 24 1/2 and 27 1/4 if it gets through there. AIC looks like a buy with a target of 19 1/4 to 19 1/2. IOM looks very good for a change. I bought it Thursday at 8 5/16, sold it Friday morning at 8 11/16, and bought it back Friday afternoon at 8 7/16. My target is 9 1/4 to 9 1/2. Good luck to all, Dan PS to Ron: Thanks again for doing the bookkeeping.

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