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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Joe Stocks who wrote (40872)	6/21/2002 8:10:17 AM
From: Joe Stocks	Read Replies (2) \| Respond to of 53068

Dan, Here is my past post about ORCL. Message 17427784 Joe

To: Joe Stocks who wrote (40872)	6/22/2002 10:20:54 PM
From: DanZ	Read Replies (1) \| Respond to of 53068

Joe, Your characterization of my trade on ORCL isn't even close to the truth. I initially bought it at 9.78 with a target of 11 to 12, and mental stop in the low 9s. That is where it had chart support at that particular time. Message 17407398 I then elected to not sell it when it dropped to the low 9s, and instead averaged down at 8.28. Message 17527884 I gave the reasons for that decision is several posts. Here is one such post. Message 17494752 "The market has sold off substantially, and many quality companies are trading at reasonable prices. Can they go lower? Sure, but they aren't going to zero, and when the tide turns, some big gains will be made. My strategy is to scale into quality companies that have good balance sheets and wait for the inevitable profit. If they go lower, I'll buy more. If they go up, I'll take a little off the table. ORCL and CSCO are good examples of stocks that I would definitely scale into here. " Does that sound like a "long term commitment" to you? Or how about this post. Message 17494752 "If one believes like me that the economy is close to a bottom, I think that it is a good idea to buy companies like ORCL and GLW if they drift lower. Like I said, I would trade these stocks around a core position because they are volatile and I don't think that these stocks or the overall market is ready to sustain a rally. " Does that sound like a "long term commitment" to you? Message 17494335 "However, because I don't expect the stock to rebound significantly in the short term and wouldn't dare say that it won't trade lower, I think that it is prudent to trade around a core position when given short term profits. The same goes for ORCL." Does that sound like a "long term commitment" to you? Message 17441046 "For the record, since we discussed ORCL quite a bit over the last few days I feel obligated to say that I sold a little of my personal holdings at 9.04. I am not calling this a Z trade because I am still holding a lot more than I sold and I think that the stock will trade higher. My target for the 2000 shares bought in the Z port at 8.28 is 9.75 to 10.10, and my target for the remaining 2000 shares is about 11." Does that sound like a "long term commitment" to you? In fact, I sold ORCL at 10.22, which was consistent with my initial price target. I had planned to hold the balance until AAPL and AMD spoiled the party, and I figured that ORCL would not be able to sustain its big after hours gain. Message 17619516 One more on my "long term commitment" to ORCL Message 17436355 "We all have different perceptions of value, and that's why there are buyers and sellers. ORCL's chart does not say buy, but the extreme downtrend over the last few weeks is not sustainable in my opinion, and that's why I think buying ORCL on the way down will pan out in the short term." Does that sound like a "long term commitment" to you? And to answer your question: "Are you buyer here"? The answer is yes. I would reload ORCL between the mid 8s to the low 7s. I think that the odds favor a trading range between about 7 and 11 for the time being. And last, Joe...I really don't like having to post old messages just to prove that someone misquoted me. In fact, I don't recall ever having to do that on THIS thread. I did have to do it on another thread when I was arguing with some jacka&& about a stock that I owned. Thanks for making this the first, and hopefully last time that I feel compelled to do this here.