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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Amy Roberts who wrote (2419)	6/29/1998 11:12:00 AM
From: Ray Rueb	Read Replies (2) \| Respond to of 10081

RE: Holiday week trading << What are you thinking this AM? How do you see the rest of the week play out? I never like holiday week trading... >> I clearly have not been predicting GMGC (short term) too well lately. So my strategy is to just lie low and hold my position. Since my losses of Thursday and Friday, I can't day trade or I lose my position. This is the way margin works, if I were to sell now and buy back at a lower price (even a whole dollar lower), I would net out with fewer shares than I'm currently holding. This very scenario played out in the 7's and it took me until the 9's to recover my position. If I just sit tight and wait for GMGC to recover, I'm better off. So, out of necessity, I'm turning off my short term radar, and I'm going to sit in the bunker and sip coca-cola. This is summer... chill out. I'm hoping for a quick recovery and I can just sit here for 2 or 3 weeks if necessary. Again, this action is being taken out of trading necessity. Given the dynamics of my current position, my patience is called for. I believe this is a page out of Alex's book.