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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (7707)	7/10/1999 12:01:00 AM
From: Michael Burry	Read Replies (2) \| Respond to of 78958

Way off topic Jim, I guess I still watch the charts a bit. After all, I cut my teeth trading coffee futures. About 8 trading days ago it broke a significant downtrend on decent volume when it moved to the high 40s. At the point, I wished I had bought more in the low 40s. Today it just popped its 200 day, after trending along it for a few days after trendline breakout. This all occurred in a setting in which the years-long stock chart tested a years-long uptrend and the support held. Maybe TA is only useful because others use it. I don't know. But it's interesting to watch, and I believe in it to the degree it reflects crowd psychology. Despite SLOT's volatility, I'd be surprised if it goes back to sub-50 now. And yes, I'm waiting for the 80's at least before I sell, no matter what the chart does. It's as sure a bet as Apple at 34, Oracle at 23, American Power at 27 (presplit)... Mike

To: James Clarke who wrote (7707)	7/12/1999 12:22:00 PM
From: Stormweaver	Read Replies (1) \| Respond to of 78958

Just took a quick look at SLOT. Looks like a good value candidate. What was the reason for the Jan-Mar 99 sell-off ? /James

To: James Clarke who wrote (7707)	7/12/1999 12:33:00 PM
From: Stormweaver	Read Replies (1) \| Respond to of 78958

Some -ve on SLOT: Anchor Gaming hit a bump in 1997 and 1998, when it was hit with five lawsuits brought by shareholders alleging that the company artificially inflated its stock price so that insiders could sell off their holdings at a profit. (The Fulton family reduced its ownership interests from 52% to 37% in late 1997.) The lawsuits, however, did not hamper the company's introduction of new machines. In 1998 the company introduced its CashBall, Keno Bucks, and Big Bucks Bingo games and teamed with IGT to refurbish traditional slot machines. The next year Anchor bought Powerhouse Technologies, a maker of video poker machines. From the investor.msn.com web site; Business Profile - overview section.