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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Pigboy who wrote (13191)	12/17/1997 6:16:00 AM
From: craig crawford	Respond to of 29386

<< Why are you in the mood to fight? >> I didn't say I was in a mood for a fight. I said I knew I could count on Ice to give me one. I am up to the challenge however. << If you start laying out buys and shorts, many would probably like to hear that you are only in the things for a day or two. >> Sometimes I'm in things for longer than a day or two. Until I covered yesterday and re-entered my short position in COMS I was holding that one (plus I added to it) for a couple of weeks. Iceburg can laugh at me all he wants but I made a couple of points on my COMS in the last couple of weeks while he lost 10% of his $ on ANCR. << Many might get the impression that you might like something for the long term (over a YEAR?). >> Some things I do like over the long-term. I've told this thread before that making money by buying and holding isn't difficult. Just buy DELL, CPQ, MSFT, CSCO, INTC, TLAB, LU, SUNW or some quality company like that. Where's the CHALLENGE? These are obvious money makers over the long term. They are so obvious I don't think it's necessary to point them out. The real challenge is trading. Anyone can claim to be a buyer and holder over the long term (nothing wrong with that) but it doesn't take any guts. You don't have to stick your neck out on the line. If the stock goes down you can simply say that you ignore the market and over the long term you will get rich. Big deal. That's what most people do. Trying to anticipate market moves ahead of time is challenging. That's what makes the market interesting (and profitable) for me. << You never mention that you feverishly day trade some stocks for one point or two anywhere on the thread (correct me if I am wrong). >> Yes I have. I'll tell you right now that I don't even mention the majority of my trades on SI. I might be trading CSCO, LU, TLAB, ASND, DELL, IBM, COMS, CIEN, SUNW, DDIM or some penny stock or whatever suits my fancy. Some work out and some don't. What more do you want me to say? Most of these trades aren't worth mentioning. They are merely trades to keep my attention on the market. I was having a private conversation with someone from this thread on the Friday before the 554 point drop. ("grey monday") I sat there and told him real time that I was selling EVERYTHING. I was quite emphatic about it. Did I know the market was going to tank 500 points the following monday? No. Did I want to hold anything over the weekend with the way the market was looking? Nope. But I didn't feel the need to go running all over SI saying how I thought the market was going to crash. Usually I only post my views on things when I feel pretty strongly about something. Just a couple of days ago I was thinking to myself I bet the Nasdaq rallies to finish positive by the end of the day. It was at some critical levels of support in the Morgan Stanley High Tech index (MSH) and the Nasdaq composite was on the brink of closing below the Oct 27th closing low. I figured the techs would try to make a little stand right there. It turned around after being down about 20 points and finished flat. Problem is I didn't bother to mention it on SI. I still feel COMS is going to see 25 before 45. That is my call. Do with it want you want. I will probably continue to make money trading COMS even if it sits in the mid 30's. << Also, you kind of act like you never lose money on any investments/trades. That is quite impressive, I might add in this environment. How do you do it? >> First of all I have been shorting tech stocks so that's why I'm doing just fine thank you. (Aside from yesterday. Yesterday wasn't a good day for shorts like myself). I lose on trades. Go read the CYMI thread a month ago. I took my loss (mentioned it on the thread) and left. Just shorted some LU and C$CO. Obviously those two were up nicely yesterday so they aren't working out too well either. Posted that for everyone to see. I have posted my winning and losing ANCR trades here for everyone to see as well. When COMS was being hyped to above 38 I was down a couple of points yes. I still ended up making money because I rode it out (and mentioned on the COMS thread several times that I was sticking with my short). I covered yesterday at 34 1/2 and re-entered my short at 35 7/16. I'm still sitting on that short as we speak (and it looks like we will have another rally in a few hours). << Also, you seem to insinuate that someone who has bought ancor at 7.5 has lost a lot of money. Not true. >> Paper losses hurt just as bad. I don't buy into the excuse that you haven't lost anything until you sell. I know people who have stocks that trade for pennies but still haven't sold. Are you trying to tell me they don't have a loss? Tell that to NUKO fans. BTW, just so everybody is clear on my position, I think that COMS, C$CO, LU, are all going lower in the short-term. (Not necessarily today or tomorrow these bounces usually last for 3 or 4 days). I think ASND is a total waste of time as is ANCR. I have been telling people to stay away from COHR, LPTHA, INTC, and I'm neutral on APAT (don't hold a position currently). I don't even bother with TDDDF or DDIM anymore and yes crybaby Iceburg MTZ is a buy at these levels. Check back with MTZ in a year. Am I clear enough now? Why don't you download that Instant message software for AOL and I will give you market calls and stock picks all day long.