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

To: advocatedevil who wrote (46184)	5/4/2001 3:07:13 PM
From: Jacob Snyder	Read Replies (5) \| Respond to of 70976

ST trading: Just sold my NVLS puts, (in at 13, out at 12 today) as NVLS hit 50.3. I don't like the way BuyTheDip is back in fashion, and the way the semi-equips, since 4/18, have repeatedly bounced at their old resistance levels. I will wait a while, and when it seems that sentiment is shifting, buy my puts back when NVLS is at 56, AMAT at 56. I've been waiting since 4/18 for the stocks to slide back into their old range, demonstrating that this is just a false break-out. It isn't happening, and I've learned not to ignore the chart. When things aren't happening the way I think they should, when a stock moves out of the range I'm trading, then it's time to take losses and wait for a pattern to re-emerge. I managed to sell the puts at the very bottom of the recent range. More bad news about the economy (employment numbers), and stocks rallied on it. Also sold my NTAP puts today, still holding a modest position in puts in JNPR and TXN. If last December was the bottom for semi-equips, then I missed it, and will have no position in the next upcycle (and 300 mm should make the next upcylce huge). I'm certainly not going to chase it at these levels.