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Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: Hayduke who wrote (5564)	3/22/2001 3:47:36 PM
From: Jacob Snyder	Respond to of 6180

Just bought TXN puts, 1/02 37.5s, at 8.0 I changed my mind. I'm going to watch it very closely, however, and I may need to stop-loss tomorrow, if we keep going up. Next resistance at 50, and we could get there quickly if money sloshes into semis, looking for the ever-elusive "safe sector". Actually, if we go higher, I may just buy more puts. Even if this is a permanent breakout (unlikely), we will still probably retest 36, in a week or two, before going on up.

To: Hayduke who wrote (5564)	3/23/2001 3:43:44 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 6180

just sold my puts at 7, held one day and lost a full point. When I bought at the close yesterday, I was betting that we would only spend a day above 36, like we did last time, and then close below 36. Instead, we came down to 36, bounced, and are going into the close very strong, going to close well above 36. In addition, I'm hearing a lot of people saying: "MU says memory chip inventories are getting cleared, so maybe all chip inventories are getting cleared, so maybe supply/demand is coming back into balance, so maybe we've seen the bottom in all the chip markets, and it's safe now to buy semis and semi-equips, because the bottom is in." Lots of "maybes" there, but we may be at the start of a bear rally that takes the SOX to 750 (the January top), and so I closed out all of my tech shorts and puts at the close today. I intend on re-shorting when the rally looks to be fading, and/or when I get a clearer picture about what's going on.