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

To: Steve Lee who wrote (2694)	6/23/2000 9:45:00 AM
From: Steve Lee	Read Replies (3) \| Respond to of 30051

Just sold all my RMBS stock and bought Aug 100 calls on this "pullback".

To: Steve Lee who wrote (2694)	6/23/2000 9:49:00 AM
From: Mark Johnson	Read Replies (1) \| Respond to of 30051

<<<I seem to remember Zeev saying down and you saying up when VLNC was a lot higher than it is today. Whose call was the most painful?">>> Steve: It seems you get pleasure from saying I don't know anything about investing.....that's curious.....FYI, I sold part of my Valence position at $34 and $37 and rode the rest down and hope to ride it up...cause I look further than short term turnips I get ridiculed.... Good luck, MJ

To: Steve Lee who wrote (2694)	6/23/2000 9:27:00 PM
From: Zeev Hed	Read Replies (4) \| Respond to of 30051

Steve, I am writing this only because I was urged by numerous people in PM not to acquiesce with slandering posts. Since the slanderer is on Ignore, I am responding from reading yours and others response on this thread. To set the record straight on VLNC, I rode it from $7.25 (with minor interruptions)to the high 30'. Then I had some three trades in the $26 to $35 range, on the fourth attempted run(entry around $28) which I erroneously thought might be the one that will finally break the brick wall at $40, I got caught in a gap down (on the valence thread I raised the "yellow flag, to some posters consternation) and exited at $24 plus, played it few times since (one pretty good run on the April debacle, $15 to 19.75), one minor loss of 7/8, the others one gain of 2-3/8, and few $1 buck gains, all together, just as good as the runs in RMBS, CDTS and SCON I had earlier this year. The most important thing to remember (both in VLNC and RMBS), I did not stay in for the punishing 70% declines from the top. I believe that the later part of this record (since you started this thread) is fully documented real time on this thread (real time meaning about 15 to 30 minutes after the trade). I consider my "reading" of VLNC to be on par with my reading of RMBS, CDTS and SCON, about 60% right, but getting out (or back in) fast, when wrong. Of course, with partial "quoting" of the record, some people if bent to do it can prove anything. I know not that slanderer motivation, since I have not written a word in anger to him, nor used foul language (I wish he could say the same, he got to be the only person on my Ignore list because of his bent at personal attack, foul language, character assassination and distortion of the truth.) I have absolutely no interest in engaging in discourse with him, and this post will be the last to attempt and set that record straight. I hate when I have to apologize for thread polutters coming to this friendly site, like that. To all thread readers, I apologize for the need to write this post. Zeev