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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (11836)	5/6/1998 5:32:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 12298

To All; James did not do to good either I may have exited to soon today..but I didn't want to sleep on her..came out at the last min at 9-1/16...( I mean the last min too ...thought I missed it <G>) ..any way I fought her down and was tripled up at 8-11/16 but still had an average of 9.33 with commisions, so this play was a loss. ( gets to me as it's my first bad play in a long time and I can remember the times it was a habit ..and I don't want any more of them days. ).. ---------------- All in all I've made $85.35 off this dog..not good for the risk I was at..this time eat up my early profits real bad. Them gap downs can get ya. I won't likey play her for a long while now. Except I still got some MAY 10 calls ( bought cheap yesterday ) at least with them my risk has a lot less limit than it did while I was long.. -------------------- I may kick my butt tomorrow for ducking out as I was close to at least making it a wash..but I do not like the looks of the broad market in general.. I see a weakness that showed up last AUG & SEPT before the OCT sell off..the great big Supper Caps have a slow down trend in place.. iqc.com Note each high since April 5th is lower... These are the very very BIG caps and what gives the market her liqiud..Fund Managers "Window Dress" Their NAVS..as they reduce these their larger holdings..to buy the fast runners..BUT this reduction has a limit..as more and more of them do the same thing the Super Caps start a down trend..( the market gets less liquid ) Fixation on the DOW or the S&P is a real mess..they can fake you out or bait you in..WATCH THE SUPER CAPS..that is the only index you can get a good TA on..the others can get run up by thinly traded stocks..but then when any money goes out of the FUNDS..it's hell to pay..as the market has lost a lot of her ability to be liquid..( we most broke the down trend line the other day , well we did for just a bit..and that's when I took the chance on APM, but it didn't hold. -------------------------- The super caps are like tide to this ocean..FUND window dressing is catching up with us ..and I'm not sure they see it. Instead of just investing the new money in the fast runners..they are taking money out of the most liquid of stocks to buy these fast runnners...this is not just divergence..like smaller caps out running larger ones..( that in itself is not so bad ) BUT when they do it at the expence of the big boys..and when the S&P starts opposing the Super caps you can see it. They need to put some money in these things before long..any strong move to bonds or such will turn this market on it's ear bad if it's not liquid. Jim