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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: kdavy who wrote (46038)	5/16/2001 1:39:46 PM
From: kdavy	Read Replies (3) \| Respond to of 70976

ST trading: update Ref: post 46027, 46037 This has been tough two weeks. In my first account ( where I keep stocks for longer period of times). I have amat, nvls, mxim and lltc. They are all covered, mxim @may50, lltc@may50, amat@55 and nvls@55. I think I will end up losing mxim and lltc. I will buy mxim and lltc after options expiration when they drop below 50 again. And will write covered calls. This month gave me about 16% profit for the month (premium+buying/selling difference) for lltc and mxim and about 9% profit for amat and nvls. In the other account, I had traded intc, amat, mxim and sunw. Lost money in sunw but intc, mxim and amat were gainers about 12% average. I am still working on the assumption (conviction, of course short term) that until next quarter earning warnings, reports, we are going to trade in a tight range, with an upward bias. Ranges for Amat (49-59), Nvls (45-58), mxim (45-55), lltc(43-55). Therefore, In my first account I will write covered calls amat, nvls (june55), and mxim, lltc 50's. I understand I may lose these shares but that is fine. In my trading account, I will buy amat below 50, nvls below 48, mxim below 47 and lltc below 46 with very tight (two point) stop-losses. Will take 4-5 point profits. Probably trade three to four times next month. I will buy in three steps. My decisions are based on the belief that until new information (earning, booking, outlook) is available, the market is going to search for direction. There is nothing to drive the market down short term. (I hope I am right, even if I am wrong, the losses will be limited). I work only month at a time. Thanks everyone for educating me both in stock trading, investing but also in social issues which I enjoy a lot. kdavy