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Technology Stocks : Read-Rite

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To: Christopher H. who wrote (4699)	3/27/1999 10:51:00 AM
From: John Ritter	Read Replies (2) of 5058

I went back and looked at the chart you couldnot tell on March 23 whether the stock had bottomed, then kapow after the warning. How did I avoid this since I was in the stock; well I sold when it bounced off 10 and began heading lower with little resistance. Why? As it happened I was monitoring the price movements and had gone in and out of several DD stocks. These looked too weak so I switched my your situation before I share your pain. My play is that the gap focus on other sectors (CATP) (PGNS) and situations. Day trading for profits to establish positions makes one sensitive to price movements. So there is no way you could have known!? However, having been in RDRT before I believe the stock will close back to 8. This will happen when the market realizes that RDRT is doing much better than is was the last time she was at these levels. Then (if) I will lighten up my position and go long with the rest for the next cycle back into the teens. Just seems you went long a little early to me, still a cheap stock at 8 for the long haul in my opinion. That said it can always go lower, which is why I wait for dips to enter a stock.

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