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Technology Stocks : EFII - Electronics for Imaging -- Ignore unavailable to you. Want to Upgrade?

To: r q lad who wrote (630)	12/20/1997 12:23:00 PM
From: Harold S.	Read Replies (1) \| Respond to of 1460

r q lad, Thanks for the compliment..I only wish I was always right because God knows I am not. However, I do believe there are an awful lot of people on the threads who wait till a situation is over and then come up yelling what they supposedly did. Whether they did make the right call or not is kind of irrelevant because the fact they told about it afterwards make them suspect. This is why I immediately posted to the thread in the morning when I sold at 13 11/16 that morning. If the stock would have kept going up I could never have claimed I was still in. I also immediately posted I expected a drop to just below 13 later that day. The stock looked very strong at 13 and i was beginning to wonder whether I would ever get that dip below 13. I watched and waited and as soon as it broke 13 and immediately appeared to have lots of buying coming in I hit the button on my already pre-entered buy for the limit of 12 15/16 and snuck in just in time. I also immediately posted that to the thread, even though the stock spent another couple hours hovering at 13. Again, I feel it is important for credibility to post immediately. If it would have gone to 12 1/2 I could never have claimed something false. Now, in reference to your question on whether I stuck to the 5/8's rule or whether I am still holding; the answer is I am still holding. I use TELESCAN and rely heavily on charts and fundamental analysis. The 5/8's rule is nice for stock that are up and down a lot during the day, which this one was the first few days after the big fall, but if you really loook at the strength of this stock on Friday you will relaize why I held. the market opened DOWN big time and this stock started up again. When the amrket pulled to its lowest point on the day EFII pulled back to the 14 3/8 area where it hovered till the market turned and EFII started back up. The stock closed within 1/16 of its high of the day which, technically, bodes well for Monday. The Nasdaq has been very sick looking for a while and the Asian situation is still putting pressure on the market. Currently I have a mental stop loss set on this stock at 13 7/8 which will still leave me almost 2K profit if it starts to slip in a big way. I have left a lot of room on the stop loss because it is my belief that this stock will be a real winner after Jan 1. Even with the tax loss selling in a stock like this that has lost so much, even with the market as sick as it has been, even with margin calls that must be out the @#$s on this stock: EFII SHOWS TERRIFIC STREENGTH!! What do you all think is going to happen when the first of the year comes, the funds jump back in the market, the tax loss elling is over, the margin calls have subsided, and the Asia situation is reconciled in the minds on the street??? I'll tell you what is going to happen, this stock will be mid 20's by the end of January. This is just my guess and I could very well be wrong; but all of the above is why I held on this one and will move my stop loss up proportionally as it rises. And hey, if it hits 13 7/8 on Monday and I am out I still have 2K profit on a 3 trading day trade. I'll take it. As I said before, this is not my profession and i don't claim it to be. I am a cop who has a hobby on the side I do well in every now and then. Good luck to all!! P.S- I do find it hard to believe that what we saw Friday was the old "dead cat bounce." A much overused expression to generalize any upward price movement during a sever downtrend. By the way, I feel it is also sometimes proclaimed when one realizes he should have got in early and now must rationalize the rise to make themself feel better and to try to convince themselves the stock will fall again. It may be a nice little wait before this one sees 12 7/8 again.!!