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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (2418)	6/14/2000 7:33:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Well, XIRC I bought, because it is breaking out, and I just got in under my "erring" selling price, it could go back to about $45, but I think something is happening there. The other two, RMBS and SNDK I had these prices as daily targets, and was not "fast enough" to remove, but I feel they are relatively "OK", with RMBS just breaking above $247 and SNDK with a target bottom right now of about $62. In any event, I do expect a morning bounce which will dissipate during the day, if we get it, I should be able to get out unscathed. You must understand that I am heavily in cash, and those turnips are not always right, so I like to raise the equity position on pull backs in stocks I consider strong. Now, for QCOM, I have no excuse, probably a dumb move since it has a good chance of going much lower to the low $60', yet abounce all the way to $83 will still keep it in the DCB mode, and i think that the powers are not gpoing to want to see a collapse, at least not tomorrow morning (in the afternoon that is something else), what better to prop up than QCOM? As for ONT, it broke through $8 and that was my signal I was wrong, I heard about those lock up expirations as well, but I am not sure if those guys managed to short against the block at the $30 area or so. If they did, now would be a good time to cover. I don't know what is the short position history on ONT. Zeev