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Technology Stocks : Xilinx (XLNX) -- Ignore unavailable to you. Want to Upgrade?

To: Lewis M. Carroll who wrote (1973)	10/14/1998 5:50:00 PM
From: joe smith	Read Replies (1) \| Respond to of 3291

lewis, i tend to move into shorts a touch early so thats nothing new. this was targeted as a one to two day trade. xlnx and altr need to fluctuate up and down a bit more until they are move overbought. that may be at a higher level than today. at that point i will look at the trade as something i will hold for a few weeks as the sox sells off again allowing me to get 8-10 bucks out of the trade. this is targeted for a quick couple of points. i dont think it will sell off more than that with options expiration this week. later next week should be a great time to load up on semi shorts for 25% gains over the following 5-7 trading days. i dont see a lot of upside here. altr and xlnx have now put together 6 qtrs of flat revenues. now that the overall market has a more negative tone, how will wall street tolerate that? i dont know, but i was willing to bet they are getting a little fed up with it. if the market continues to trend down i believe these two will gravitate towards a pe multiple closer to their actual groth rate. a pe of 15 would put them around the mid twenties. if the market gives up on the semis they could go much lower. im not saying this will happen, just expressing my thoughts on what levels these could and probably should approach. so if i get my couple points tomorrow ill cover. then i will wait till next week and increase my bets assuming they havent tanked already. you mentioned shorting them as not being a good investment. IMHO i cant find anything i want to be long and feel safe holding long term so for the meantime im a trader not an investor. at some point i will look to the long side until then i short the rallys and do a little buying of dell when the market really sells off. i can see this continuing for months. js