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

To: mishedlo who wrote (6719)	10/24/2000 11:01:14 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 30051

Actually, I see a rally tomorrow, but not before a hard down opening, and the weakness may run until early afternoon. I would suggest you do not just look at the "value" of a stock (like SSTI and KEM), but also at the "following" these stock have. SSTI can be a great value stock now, but the market is always asking, and what will it do for me in 12 to 18 months? It is quite possible that the market views the large expansion of various flash capacities as a preamble to price (and profits) erosion in the sector. I personally will be buying SSTI again if $20 seems to hold and would double (again) at around $17 (a repeat of the last gambit, which worked pretty well). I will be out if we breach $16. As for SCMR it could go under $70 by a little and still be "basing", a tough one to call here. Taking into account my last 12 trades in this one over the last few weeks, I can "afford" to not put a stop loss and double up anywhere between $69 to $77, and still will do quite "fine". That stock has been very good to me since it breached $100 (just like the bu$$), so I will "fearlessly see it stumble and then double up. The whole play goes out if SCMR prints $66 (or closes under $68). I am putting a GTC at $68-3/4 before the open (if it does not go lower in "pre-market). Zeev irrevolute.iuma.com