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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: GTC Trader who wrote (3463)	6/11/1998 8:21:00 PM
From: Bruce A. Thompson	Respond to of 4697

Happy, I'm using Suretrade. They let you do anything. Stops, shorts, options, margins, etc. At $7.95 a trade, they're almost free. Bruce

To: GTC Trader who wrote (3463)	6/11/1998 8:28:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 4697

Happy, I know that all normal brokerage houses will set up buy stops. I am not using "electronic trading " as yet, so I do not know their regulations. In lieu of a formal "Buy Stop" you can use a virtual one (you follow the stock and put your order in when it crosses your set price). In over the counter issues I never use formal stops, since the MM's love to go for these (both on short and long side). As for the Nikkei, I think that by the time you'll be reading this we should be well under 15000. (Yahoo international is down once again, but I'll try and look at Bloomberg). I have been asked to narrow down the timing of the beginning of the next rally (which I believe will be a typical, while shortened summer rally). Typically, the summer rally goes from "Bastille Day" to Memorial day (and do not ask me why, I just heard it on NBR). I believe that if you wait until Bastille day you'd be missing 3 good weeks of the rally (Bastille day is July 14?), and if you wait till Memorial Day you may miss the peak by a month or more. My current thinking is for a turn either next Wednesday or the Wednesday after that, more likely the latter. There is one scenario that could develop that would make the former operative. If in the next three trading days, we drop down another 500 dow points or more (to the 8250 or so area, which was my target for the low), then we should set the stage for the early bottom, IMHO. If Asia turns homogeneously red again tonight, we might be setting the stage for that scenario, and for a very black Monday (the type we usually get in October <VBG>). If Monday turns out to be a 250 plus down day, it would be a good strategy, IMO, to jump in Tuesday after about 1 to 3 hours from the opening. If we indeed get such a scenario we may have a fast rally of just few days and then the week after that a retest. That should put in place an excellent foundation for a powerful summer rally. But, you got to be patient and nimble, and frankly, WFR would not be the best candidate to play such a rally. The Turnips have spoken (VVBG). Zeev PS, Happy Bids, I just checked the Nikkei, down 141 so far.