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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Wiski1313 who wrote (2695)	3/12/1998 9:20:00 AM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Edward, you have a great memory. I think I had mentioned it as beaten down stock that AT THE TIME, had some opportunity..it was 4, 5ish then. Popped nicely yesterday...I was selling yesterday and will finish my selling today, regardless of what happens with a 50%gain. A great position trade. Took a little longer to come to fruition. Great recollection! Did you buy it on my suggestions? If so, I am glad it worked out....thanks for not razing me when it fell from 5 to 4 1/2...lol! Anyway, 30% is a good profit. I usually like to hit singles and doubles with cheapies and move on to thenext. I had one client who I had suggested it to and bot about 5k and made an 1/8 or 1/4 and wanted out. Yet when the stock moves against him, he hangs in there too long, against suggestions. There is a vulgar phrase for that, "eating like a bird and crapping like an elephant"..meaning you trade for 1/4s and 3/8s profit but let your loses fall points. I will be out today, except for one or two thousand shares which I will keep for good luck and maybe write calls against. But I must also tell you that Bernie and i had about 20k shares of LCOS each when the stock was about 6, 6 1/4....we traded out for 1/2 point gain...we thought we traded that perfectly, 1/2 pt. on 20k shares, not bad! At the time, looked good...Stock is 43 today. Consider thinning out a bit, sell some and leave a little, or take profits, move on and dont have second guesses. Regards, Steve@yamner.com

To: Wiski1313 who wrote (2695)	3/19/1998 5:43:00 AM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Just to point out the shortsightedness and missed opportunities that often can come from very short term trading...ie...VRTY...stock we mentioned on here as an example a few months back at 4 1/2ish...stock ran up recently and someone on here asked me if I would be selling in the 6, 6 1/2area. Yes I was, thinning out significantly. Anyway, stock has earnings Tues. Nite, loses 5 cents, stock pops a 3/4 of a dollar. To make a case for momentum investing, which I DON'T believe in, I bot the thing at 4,5 and sat with it for a few months....sold at 6 1/2 and make 40%ish in the time period. A momentum investor would have waitied till it started picking up..., hopped on board at 6 when there was some action and sold at 8 perhaps for a 20% return in a few weeks, time adjusted, better than me. Then again the stock could be back to 5 and selling at 6 1/2 would have made you look like a genius. Momentum investing has found many fans over the past few years given the markets strong move and departure from reasoned valuations. When bullishness fades to bearishness and people snap out of the haze that it appears we are in, in regard to valuations, you will probably see sme of the excesses get shaved from the market, mean serious pull backs on high fliers with momentum investors getting crushed. Regards, Steve@yamner.com