To: 45bday who wrote (1234 ) 6/24/1999 7:29:00 PM From: Lee Lichterman III Read Replies (2) | Respond to of 1316
Sorry, I worka day job so I am just now seeing all this. As I posted on the MDA thread, I have been short the DOW for the last 3 days via puts. I closed my position today and am now going to scope the market out for clues to the next direction and potential plays. KEA just finished forming a nice Head and shoulders formation so if the pattern plays out, which they often don't so don't panic, it would point to at least a drop to $17-18 area. This also could have been an exhaustion sell off but only time will tell. I did get a few inputs as to different rumors floating around all of which are pretty much false. As to if it is a buy, it depends on your time frame and risk level. If you are a swing trader like me, I would wait and see how things go then play the move and hold on. I am kicking myself since I told my friends at 31 this was likely going to drop but it was meant as a defensive advisory and since I didn't own any, I didn't act on it myself by buying puts. Seeing puts trading for many dollars that were only a fraction then aches me but I for one can not short a company like this that I know is sound. If you are a buy and hold type player, KEA will make you a fortune years from now. Many stocks are over valued but KEA is not obviously. Would you rather own a net stock that won't ever meet expectations for income ro a company with a proven track record that makes money? I am not saying this will rocket up near term although it could, but I am saying that if the market blew apart in 6 months and stocks came crashing down to fair value according to all known historical measurements, KEA would be worth holding versus the other 99% of stocks that are grossly over valued. My charts won't be updated for at least another 7 hours but in case you lost the address, my site is athome.att.net where you can see various charts on KEA and other stocks, indices etc. Good Luck, Lee