Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : American Power Conversion -- Ignore unavailable to you. Want to Upgrade?

To: Gil Gilbertson who wrote (1917)	1/7/1998 9:02:00 PM
From: Phillip Crone	Read Replies (2) \| Respond to of 2574

Gil, nice to hear from you, there doesn't seem too be many people on this group with as much trading history as you have. Japan is on the brink of depression, comsumer confidence is so low over there that people just aren't spending money. They can't print there way out of this mess because interest rates are already so low and that hasn't worked as of yet, what Japan needs is foreign investments and they aren't going to attract any with the Yen getting killed by the dollar. All of the capital of Japan is heading out of Japan, like the US. I think your attitude towards APCC and selling calls is very prudent. You actually use options for what they were intended, Insurance. I also think it is a very good strategy if you believe in the company long term.You know nobody can time the peaks and valleys perfectly and who wants to give Uncle Sam 28% of your profits, besides they don't need it now with our budget surplus, joke (what about paying off the 5 trillion in debt that we owe , and over 30% of that is to the Japanese. I would like to hear exactly what you mean by the running of the cats and dogs. For right now it feels as though the market is going nowhere pretty fast. We have been in a nice little 500 point trading range for quite sometime. The mood on wallstreet reminds me of an execution squad, it seems like they are taking them out one at a time and shooting them with the firing squad. It will be interesting to see how the quarterly earnings come out this month. I guess if I had to predict I would say that if we go down it is going to be the 3rd week this month which will be the height of the earnings releases. If a big cap comes out with a terrible number it might be the catalyst for something larger. And didn't they just stretch out the crash bands to allow the market to fall further without shutting things down. Can you imagine the panic on Wallstreet if the market had to shut down early on options expiration and nobody could close out their positions, I wonder what they would do? For what it is worth, I have been playing the gold bug for about a year now and lost quite a bit last year. I was smart enough to bail out of Gold when this Asian thing and mini crash happened in October because I didn't like the way gold reacted to all of the currency crisis's at the time, it was obvious that people weren't running to gold as a safe haven. Was probably one of my better moves to bail my entire position because I sold my gold mutual fund when gold was at 325 and just a few days later is when it plumeted, saved me about 20% of my portfolio. I bought back in a few weeks ago when gold was at 282 and actually the gold mining shares have responded very well as of late as compared to gold. At anyrate, what I am trying to say is I have been pleased with how gold has been reacting lately to the Asian flu, and today with the long bond taking a hit and the market going crazy gold was actually up, which isn't how it reacted a few months ago, so maybe I am close to a bottom???? Time will tell, but that is how I stand for now. Take care, Phillip