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

To: U.B. Green who wrote (7710)	11/12/2000 12:57:26 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Bernie, I gave th whole "gory" list last Friday before the close: Message 14779744 As for your questions, I do not have too many additional positions to sell (I covered with calls parts of the core earlier in the week) and the trading positions I still have are unique like the SC' HAUP, XIRC, CCRD which already have been beaten to pulp and positions in which I am not bleeding too much (like BVEW and EXDS). I may still sell these near the open, particularly if it seems that the market might gap down but may try and reenter either later Monday or in the afternoon Tuesday, if market extremes are reached. Of course, I might not have a chance to sell anything Monday morning if we gap down and continue with a "massacre". If that happens, I'll simply start and pick up some jewels at reduced prices. The expectation of such a "massacre" was the reason for bailing out late Friday. I was expecting a short covering rally, but when it did not materialize around 3:30, the battle cry became "To the hills". I must admit I was tempted by the holy one back at $16 after an earlier excursion to $18 plus. However, after carefully reviewing their latest earnings report and the post earnings confernce call, I came to the conclusion that there is no rush and that the holy one should be available another $2 to $4 lower in the near future. Many stocks like CCRD, XIRC and even DELL, were punished much more for much smaller disappointments than the one served last Friday by the holy one. I think that the enormity of the disappointment has not sank in yet by the close Friday, mostly because the market was still euphoric about the Telecordia IP acquisition. Zeev