Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Emulex, What Prospects? -- Ignore unavailable to you. Want to Upgrade?

To: Deeber who wrote (651)	8/27/2000 1:36:43 AM
From: Sharck	Read Replies (3) \| Respond to of 788

WOW, so much for a sleepy Friday to end the week. Here is how "we" played EMLX... Out our longs at open, and immediately went short. This was on t.a. and a fluke as I had not yet known of the hoax PR. We were able to add to the shorts on a few upticks btn 107-104, then covered btn 60 and 48 as the fact that the company had not yet halted trading suggested a potential fake. We then started buying, though only picked up small number b4 the halt as time was short. I then went looking for any sympathy plays and found some. The most obvious was QLGC which we grabbed for a quick scalp. Also grabbed STOR and anticipate this will bounce at open. In prep for resumption of trading we sent out two orders, one, knowing many had to cover shorts that they had not already done so and the knowledge that many newbies would buy with mkt orders, the price was going to be high. We sent our sell longs EMLX @120 ltd, and went short same number also ltd@120 ltd. It worked out perfectly as the mkt crossed at 126 which is where we got taken: covered longs and went short again. While some may have covered I suggest leaving EMLX open short for another few days, as volatility will allow for a better cover opportunity. Hope none of the lurkers here got caught in the downdraft. However, I assume many may have. That's precisely why I have decided to join SI and perhaps empower some of the daytraders here and help in any way I can to keep you ahead of the game. Feel free to drop by, say hello and share ideas. Subject 36700 Good luck, trade smart... Sharck