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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Intel Trader who wrote (4284)6/18/1998 3:12:00 PM
From: Eric Hong  Read Replies (1) | Respond to of 16960
 
I usually don't short stocks unless I see compelling fundamental reasons. Yes, I also look at the fundamentals too, I just don't put a lot of weight in it. I did short few stocks last based on TA and they were quite profitable. I am still holding my ZITL shorts at $18.5. It's my fundamental shorts and I am very happy with it. I will hold that short till it is < $1.00.

I was late on TDFX and I also don't have much funds left. That's why I didn't short this stock. If you short this stock based on TA, you would be as happy as Lerry.

Eric



To: Intel Trader who wrote (4284)6/18/1998 3:14:00 PM
From: R Stevens  Read Replies (3) | Respond to of 16960
 
When you look at a daily chart that includes todays action. It is quite obvious that the stock is decelerating in its sell off. Yesterday was down $3.50. Today (the day the downgrade actually hit) it is down about $2.00. If today's loss were bigger than yesterday's then we would be in real trouble. Look at some daily charts of stocks. If the next day after a big drop is smaller, the stock usually recovers from there.


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