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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (3288)	11/4/1997 8:45:00 PM
From: Ian@SI	Read Replies (2) \| Respond to of 10921

Justa, My reference to CYMI was: It's a deviation from my normal value oriented strategies which has not yet been profitable. At no time have I ever held up CYMI as an example of a consistent, winning strategy. While I expect (hope) CYMI will turn out very well, I did not pick it based upon anything in O'Shaugnessy, O'Higgins,etc. I haven't the slightest clue from where Teri got the idea in her assertion but was just going to ignore it. I completely agree with your comment that each should select an investing style that is consistent with one's instincts. ... makes life a lot easier. Best regards, Ian.

To: Justa Werkenstiff who wrote (3288)	11/5/1997 1:52:00 PM
From: Ira Player	Read Replies (2) \| Respond to of 10921

RE: your instincts are totally the opposite from mine. That is what makes a market. Without enough guys or gals like me, there would be nobody for you to follow with your market strategy. No offense. Different strokes. Justa, My typical holding period is 2 to 8 weeks, depending on the stock. It is not "momentum" in the typical definition because I utilize FA to determine the equities I am willing to consider, not just "what's moving fastest". This limits the downside risk, while allowing upside potential. If by "guys and gals like me" you mean long term investors (years), I agree. You detect value and cause the turn around to occur. If you mean people that try to hit the absolute bottom, I do not. My experience (luck) with attempting to hit the bottom or the top has been terrible. Much of the action on the way down is generated by people (on the buy side) attempting to buy this bargain because "it can't get any lower than this" It can and does. Long term players, I believe, the "strong hands", accumulate during the bottom and will hold on. I wait for indications of interest on undervalued (IMHO) issues and move in when they start to move on volume. When they hit value, I place them on a tentative sell list. If I see movement on an undervalued play that I have confidence in, I sell and buy the new stock, even if there is still upward motion in the first stock. The commissions on the exchange is cheap insurance for the lower risk (IMO) of the more undervalued stock. When (optimist) stocks move into overvalued territory, I sell on weakness (not a turnaround, weakness!). I would rather be in cash, earning little via interest, than buy on the downside of a move or when things are flat. Also, for the 2 to 8 week plays, I do not use margin. Too chicken to hold overnight. However, I've been doing a little day trading lately, with reasonable success almost exclusively with margin. No interest if you go in and out in the same day. Never hold overnight on a day trade. Just a different style. Ira