To: Rande Is who wrote (16585 ) 12/11/1999 12:38:00 PM From: Kanetsu Read Replies (1) | Respond to of 57584
Rande, Good advice on not having all your eggs in one basket, I had almost 1/3 of my money in Aether (AETH) and it hurt. I did manage to miss 10 points of the sell-off by selling in and out of half my position, but I still was down 10% this week even though most of my positions: PCNTF, CMGI, OSFT, (I was holding 250 OSFT as a reminder of why to always use stop losses)IWIN and BOSC were up nicely. Having puts on QQQ did not help either. I was just reviewing the book Market Wizards, and one the Wizards (Bruce Kovner) said the biggest mistake most traders make is getting overconfident and taking too large a position. Greed kills. But I still love AETH and I loaded up again at 59, it's down 30 points from it's high, I highly suggest everyone take a look at it, it's a great play on wireless stock trading in particular and wireless in general. It's also in the Wireless Investor's portfolio, so I'm in good company. Might want to wait until it starts moving up as it still could be looking for a bottom. KEM (formerly KMET) and BOSC are two others I like. I mentioned BOSC at 6 last week, it's now 7 1/2. Good financials and they own a big stake of Surf, TI and INTC are the other big investors in Surf. Do you know anything about KEM, I asked you last week, but thought I'd ask again as they are located in your neck of the woods, information is hard to come by on KEM, definitely not on most on-line traders radar screens. I like it because it is the fastest growing in terms of profits and has the smallest market cap on Merrill's top ten tech list, beautiful chart too. Finally, I bought some leaps on NXTL, I just received the brochure for their new wireless service, I think they are going to steal a lot of corporate customers in the near future, and they are currently offering 1200 free minutes for those that sign up before Dec. 31. I think they will have many new subscribers to announce come early next year. As always thanks for your guidance and advice, have a good weekend. kanetsu