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Technology Stocks : Altera
ALTR 53.61+1.3%Jul 7 5:00 PM EST
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To: nealm who wrote (1908)10/28/1998 6:34:00 PM
From: Stu  Read Replies (2) of 2389
 
I picked up some shares at $29.50 at the bottom, but I got chicken. I sold the next day at $33. They were on margin and I started second guessing myself. I should have held on, but at least I came out ahead. I did sell some shares at $41.50, so my position in ALTR is only about a third of what it once was.

Here's my real mistake. I wanted to hedge my position in ALTR when it was at $41. I should have gone with options, but I decided to play around. I couldn't short ALTR, so I decided that since XLNX and ALTR trade in tandem, I would short XLNX. That was a week ago when XLNX was $41.25. Now ALTR is still at $41 and XLNX is at $45. So much for my stupid hedge.

I can't say that I agree with you when you say that semis look strong. Semis look better. A lot of companies beat estimates, but those were wimpy estimates. I'm betting that both ALTR and XLNX will stay within their trading ranges for two more quarters.
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