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Technology Stocks : PRI Automation (PRIA)
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To: Michael Young who wrote (576)12/19/1998 1:53:00 PM
From: Warpfactor  Read Replies (1) of 1214
 
I've ridden the waves on PRIA for a couple years now. I'm more of a long term buy-and-holder. PRIA is one of the few stocks which I have been successfully able to trade, due to its volatility, overreaction, and what I've noticed to be a delayed reaction to industry peers. That is, AMAT/KLAC/NVLS will respond immediately to some sector stimuli with one of those 10% moves on day one, maybe another 10-15% in the ensuing days. PRIA often seems to have a "delayed reaction" to these moves, waiting a day or two to participate. This has been a particularly effective strategy for me on downside moves.

I would be fearful of shorting PRIA here. The market sentiment favors this group at this time. These stocks experienced extreme moves down to absurd valuations on the downside earlier this year. They tend to move to absurd valuations on the upside as well.

To short, I would have to have a sharp spike into the lower 30's in the next two weeks (it could happen), then I would try to ride it down to the mid-20's only.

Personally, I am keeping equivalent shares in a long position and am trading an equivalent amount. I just bought in at 21 after bounce off of the moving average, and am looking to sell above 25.

Just my opinion

Warren
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