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Technology Stocks : General Magic
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To: Ray Rueb who wrote (3145)8/2/1998 2:15:00 PM
From: trust200  Read Replies (1) of 10081
 
Ray,

appreciate your honesty. My experience has been similar. Similar size. Similar entry position. Similar averag cost. Only stock I own. Etc.

Let me tell you what I did and will do. I liquidated 50% of my position at 8.5. And will get back in when the stock rises again. OK, lost a few points here. But that doesn't matter. This stock is heading for a market cap of $1bn plus. I will hold on to half of my position no matter what.

Also, it is easy to panic. But Nasdaq is full of companies that lost 1/3 because of something. Somebody mentioned that YAHOO lost half of its value last year. After that it went up five-fold.

Everybody here must have done the earnings projections as a function of subscribers. We all know that if we get within a time frame of 6-9 months to 100'000 subscribers that this stock will be the best investment of your life. However, at this point of panic, I guess such calculations don't help while people are staring into the abyss.

Maybe the best approach at this juncture is to put yourself in the mind of a short. Would you like to be short a stock at 8 where earnings are picking up ? Your upside is another 3 points or so. Your down-side naturally much more. So unless they are too greedy, like we all were at 15, most of the smart shorts will cover soon. If that happens, were will the sellers be to fill in 3-4 million shares? It won't be me.

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