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Technology Stocks : ZENITH ELECTRONICS
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To: Chris Alexander who wrote (244)5/8/1996 2:37:00 AM
From: Kevin Walsh   of 578
 
Chris, I can't believe how similar my experience was to yours. I was one of the happiest guys on the planet yesterday, my wife said she felt like she was dreaming. I picked up 2700 sh at Mon opening at 16 3/4. When I saw the strong high volume finish at 23, I picked up another 500 at todays open, expecting an early run (I actually thought of selling all shares at the open - boy am I kicking myself). The plan was to do a 5-minute bar chart check when I got to work which is about an hour after the market opens. When I got to work I knew it was too late. Also like you, I was expecting a turnaround at any time. When it broke a rising trend line (based on 15-min bars) at 19, I bailed to protect the little profits I had left. Like someone else mentioned on this thread, it was hard to concentrate on my day job. I feel very fortunate that I got out when I did. The finish today does not look promising for tomorrow. Plus there's a gap to fill at 15 3/4 and one at 13.

Looking back on today, the kicker was when I read about ZE in the local Los Angeles paper this morning. For some reason I didn't hear the sirens going off to bail out.

The key is to gain experience from our trading to better react to the next opportunity - there will be plenty more. It just might be ZE tomorrow. Hang in there, ZE will be very profitible in the end.

Kevin Walsh
Lancaster, CA
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