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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Electric who wrote (15669)9/18/1998 8:23:00 PM
From: Lee Lichterman III  Read Replies (2) of 42787
 
Hope I didn't talk you out of the MU. I didn't mean they would surprise, only they would perform creative earnings release magic trick to make their problems look smaller than they are. Heck they have been getting away with it for a while now. I got to looking at them real hard and thought I saw a resistance point at 30 1/2 so despite my own advice, jumped into the MUVZ 32 1/2s for 4. Only bought 5 though so it shouldn't hurt too bad if I am wrong.

I was so ticked off at myself for not holding my IBM puts (could have got 2 more for them than I sold for yesterday) that I had to get short on something, anything before the close. DELL wouldn't go up the point I needed and all my other picks were down too. MU was the only one that was still cheap so I bit.

Now I come home and see my sell off target moved itself back AGAIN to Wednesday-Thursday and someone just posted to me that MU made positive comments at a conference. Oooops. Still think it will be lower ina couple weeks although I will probably be able to get a better price later. I wanted it between 32 and 35 but didn't want to be without puts in my pocket just in case Monday brought a surprise. <g>

What is your target for entry into DELL. I have a young kid that works for me that wants to use it as a retirement vehicle. I warned him this was a bad time bt he wants in yesterday, young, no patience. So I agreed to hold his hand the first few months to hopefully keep him from being hurt too bad. I have 53 1/2 as a possible entry on mild selling pressure next week. Do you see anything better on the horizon or am I too low?

Thanks

Lee
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