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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (16823)	8/19/1998 12:52:00 AM
From: Sam Scrutchins	Respond to of 213177

I sold my January calls yesterday, though I believe I sold TOO EARLY! I still have my leaps. Linda, Sorry for the timing of this message. My daughter had major surgery today (an orthodonist thing on the jaw), and I have been kind if busy. My decision to sell yesterday (which was clearly a too conservative call) was based mostly on the need to get rid of my August 35's. I still hold my Oct 40's and will probably pick up some Jan 40's as well, as soon as we get some sort of pullback. Admittedly, I also took hedge and short positions (with puts) for the extremely short term. This may cost me in the long run, because as Jon Tara said, the run for flags is generally much longer. I still believe Apple would have sold off a little, especially today, had it not been for the powerful up move. Even with the move's strength, Apple could not sustain its early gains. Nevertheless, I think I made a mistake, and I will not give it too much longer before I bail from these positions. Sam P.S. Linda, I can only say that I watch a number of technical indicators like the Williams %R, the RSI, and Bollinger Bands, to name a few. I have studied Apple extensively over a number of years, and I have tried to guage what makes the stock move psychologically. For the most part, these buy and sell decisions are based on a combination of things like the state of the technicals and a sense of the stock's psychological underpinning. The latter is hard to define and mostly feeling and emotion anyway. Also, the stock has typical up move and down move patterns that seem to repeat. These patterns are easy to lose or misinterpret. I been lucky so far, but the luck could end any day. Sam