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Strategies & Market Trends : APMP (formerly APM)
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To: Wall Street Jr who wrote (11131)5/14/1998 6:09:00 PM
From: Richard Haugland  Read Replies (1) of 13456
 
I finally dumped most of my CREAF today at the open at 19 1/8 then near the end at 18 3/8 and 18 7/16. Of course it immediately headed up a couple of 8ths but -- almost like APM when I finally dumped it (mostly at $20-$22)-- I feel somewhat relieved. Overall CREAF has been a loser for me I expect despite some good runs and profitable day trades. I should have stayed out when I sold everything at $23-24 1/2 one day. I believe I still have 1k shares of CREAF left in another account that I may keep for seed.

Personally I look for more problems with the stock in the short term due to its closeness to Indonesia and the poor investment climate now in Singapore too. I would buy it back at about $16 if it gets there but IMO it may float below $20 for the next 1+ quarters too. I went very long on cash today overall in my main account, selling most of my NETA, buying some of it back nearly a dollar cheaper then selling most of it again at the very end at another profit. Great day trading stock.

I was surprised at the strength of the market this morning but not surprised at the general weakness in the late afternoon. I also took a loss on one of my lagging drug stocks but sold another and bought it back cheaper late in the day. Overall a good day.
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