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Strategies & Market Trends : Z PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (3053)	8/10/1999 4:16:00 PM
From: Susan Saline	Respond to of 11568

well I'd be happy to rescind my dbcc sell at the low gggg just kidding

To: Ron McKinnon who wrote (3053)	8/10/1999 4:22:00 PM
From: DanZ	Read Replies (1) \| Respond to of 11568

Sure thing, Ron. Cancel the last short sale on LRCX. Sue, I agree that the Nasdaq and other indexes are near support, oversold, and libel to bounce. However, all stocks don't follow the general market averages around. LRCX has out-performed the Nasdaq since July 26 and gone basically nowhere since it gapped up an analyst's upgrade on July 30. If I were to use an index to make trading decisions on LRCX, I'd use the SOX. That index is in the middle of its short term trading range and not oversold like the Nasdaq. The SOX could go either way and LRCX has shown stiff resistance at 56 1/2. Over the next few months, I think the SOX will trade lower and I recommend trading semiconductor stocks from the short side.