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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Franois Trahan who wrote (5995)	11/21/1997 3:53:00 PM
From: Jon Tara	Read Replies (3) \| Respond to of 13925

Sold my trading position, still holding a long-term position in my IRA. This is a risk-based decision. Both of the indicators that I trust the most (MACD of the RSI, on daily and 15-minute bars) gave clear negative (sell) crossover signals. For Monday's open, CREAF is a PURE news play. If they release the news and it really is wowing, the technicals be damned. Otherwise, I expect a drift downward of a couple of points anyway, perhaps as low as 24. (I can't agree with Chip on "a lot lower", though...) although I don't really expect much lower than 26. The risk is that it now seems from comments they have made they perhaps got over-enthusiastic with the "wow", there hasn't been any followup as of yet on these whispers of "soon", and DELL reports on Monday, which could upset the tech market. The long-term position I am holding on to for 50s, and will get there regardless of "wow" or not. The short-term position, I feel I may be able to buy-back cheaper, and just had me overweighted in CREAF and in techs. And I don't want to hear any s*** from Chip. I'm not short, and that would be a foolish position to be in. I don't base my decisions on absolutes read off of charts, but on probabilities of outcome. Right now, I judge those probabilities as suggestive of a more defensive position than I was in. Incidently, we did get some nice buying pressure on the close, that pushed my short-term indicator on the verge of a positive crossover. However, there wasn't the kind of buying that I would associate with the inevitable leak of good news. A sincere "good luck!" to those of you holding a trading position over the weekend!