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

To: cdtejuan who wrote (3641)	8/29/1998 12:29:00 PM
From: cool	Read Replies (1) \| Respond to of 10081

I bought back in yesterday at 6, and daytraded a bit, and am holding for the weekend, expecting a gap up Monday followed by a sell off, maybe closing slightly up Monday. I'm guessing a chart pattern similar to the April to May pattern but stretching out over the next two months.

To: cdtejuan who wrote (3641)	8/30/1998 7:18:00 PM
From: Sea Otter	Read Replies (3) \| Respond to of 10081

Other thoughts. GMGC is a coiled spring - clearly when we get real news it has the potential to shoot way up. However, personally I'm balancing this against the overall macro trends. I believe we're heading for a market wipe-out, and this dominates my thinking. So I'm 95+% bonds/cash and <5% equities (gmgc and a couple other small fry). A few weeks ago I sold MSFT, sold AOL, sold DELL, sold almost everything. I'm not going to change this position until after a market reset. So obviously I'm not chasing GMGC up. Bought a bit down in the 4's, and will continue to try to nibble cheaply. This time last year I had 26k shares of this stock, but I won't be soon repeating the experience. The world situation is too scary. My secret hope is that we have our crash real quickly, allowing gmgc to fly unencumbered when the great news flows. My secret fear is that we get slowly strangled instead. Interestingly, almost all my friends and their "expert brokers" (oxymoron) are very optimistic. Buy on the dips, the market always goes up long term (defined as about 60 days) etc. Everyone seems clueless about what it is going on in the world, or thinks it can't affect them in any way. Their eyes glaze over when I start yapping about Tokyo, and then they buy more stock. Well, count me out. Sea Otter