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Technology Stocks : INTEL TRADER
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To: MonsieurGonzo who wrote (5184)1/23/1999 9:26:00 PM
From: John Harton  Read Replies (3) of 11051
 
MG Re: "position"
Not sure I understand what you mean by "thin!" or your question re: "position" but here goes..
If you mean that this 20% move has thin support I would point out that 2.5 mil of the 66 mil float traded in one day which is highly unusual in the recent history of this stock. Of course all of the recent strength occurred over 2 days which of course makes it thin in duration but not in magnitude. To me it seems as though someone may be trying to hide what would otherwise be a block trade by buying healthy bites over 2 days. In particular on the 5 min chart the biggest bite was taken at 3:55 on Friday. So I guess I smell a rat and wanted to see how it looked to an expert and impartial outsider.
My position is this..I have traded ELY periodically over the past 5 years with some very profitable results so that now I'm psychologically playing with other peoples money. I have 2 accounts, one that would be like your "core" which contains Index 500, Magellan and the like and another smaller "fun" IRA which is what I refer to when I say 50% in cash etc. Even in this "trading" account I have some holdings that I consider longterm(unless convinced otherwise) based on my old Demographics and Machines That Print Money theory that I posted when I joined this thread. ELY shares are ~7% of "fun".
But enough of my silly trading. I thoroughly enjoyed the puts/calls discussion and commend all the dudes who participated. Also I note Berney's call to have more index chart watching participation from others than those who are carrying the number crunching load. Will do my best to contribute more.

Call me slacker
-John
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