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Technology Stocks : ZENITH ELECTRONICS

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To: Chris Alexander who wrote (288)	5/9/1996 2:39:00 AM
From: Kevin Walsh	of 578

Chris, It was a buy day after all!! I got back in for 2500 at 15 3/4. I made the decision based on observing the 5-min bar chart. A well-defined declining overhead line was penetrated. The pullback you mentioned in other posts was the test of that overhead line. With a little sideways action (and little volume) ZE started to move away from that overhead line - that's when I jumped in. I was very relieved - and confident that it was going to be a good day. As you mentioned in a later post about market vs limit orders, I also only use market orders. When I decide to buy or sell, that's the price I accepted. It's not worth the 1/2 a point and the uncertainty if you got your price or not. I've been burned several times by setting limit prices. The case when limit orders would make sense is when you're away from the market. Here's another similarity. I was telling a friend at work (who has been my market mentor over the years) that ZE was acting like an IPO - it was being transformed. I still can't believe how the big guerillas shook all the little monkeys out. I really thought that the upward momentum would last an hour into Tuesday. This is the third time in the last couple of weeks that I didn't act fast enough to maximize my profits. However, for the past month, since I became a more active trader I haven't had a losing trade yet either (15 trades). I protect my gains at all costs. If I do get a loss (stock moves against my expectation) I'm out of it - no waiting for it to come back - I've been playing that game for too long. Buying and holding is what I used to do and is fine for most investors (and my retirement accounts) but it's boring to me. This is excitement - let the rockets soar. What a difference a day makes. Keep up the good work and stay in touch. I don't know how you respond to so many people. Glad you bought back in. It will be curious to see if ZE can penetrate resistance at 20 1/5. Kevin Walsh saving for RAAM '97

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