Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: Anaxagoras who wrote (4447)	12/10/1998 7:54:00 AM
From: Kip518	Respond to of 8307

Anax, apparently you didn't want to take my advice on playing EGGS long only to the gap or you would be out of here by now -- the gap was filled. I blew out my longs at 27-31. I don't see the likelihood of any news between now and XMAS that is not already in EGGS. I think it, along with most of the e-C stocks, have had their speculative seasonal run and will fall back until news of Dec sales hits the street (& by that time it will be old news). My guess is that over the next couple of weeks EGGS will drift down to possibly as low as 11-12. I won't short (assuming I could get shares) unless there is a spike up today or tomorrow. The recent spike, unfortunately, has taken essentially the same shape as the early summer move, which ultimately took EGGS down to the 4's. You don't want to ride it down. I assume you have your stops set. Good luck, Kip

To: Anaxagoras who wrote (4447)	12/10/1998 12:34:00 PM
From: NW_Trader	Read Replies (1) \| Respond to of 8307

Anaxagoras: Thanks for the nod - sorry for delay in response - unless posted to me I often miss side remarks to me as I avoid following closely the thread of any stock that I'm trading - helps to take the emotion out and keeps me following my intended trade. Today news that Neilson will be issuing ratings of web sites, some info out on web shopping since Thanksgiving, and a number of the nut-com stocks are up, but not EGGS. Hmmm. although the past few days my efforts to get a borrow at Schwab have been for naught Hence, trading the box strategy - if you wait to see the top put in and the slide start, you often can't get the shares to short - either the downtick rule gets you or (more likely) the smart money is already there and your broker can't borrow the shares to short. (Good reason to have different brokerage accounts.) I don't do options, but buying a hedged put might avoid some of this problem. Yes, you may give up some ultimate total profit. Yes, you have to be willing to carry a loss if the stock continues up. But if the stock is in a trading range or will ultimately tank you will be able to profit vs. wishing you could get into the trade See from later post that you've gone short. Hopefully, you've planned your trade - now you have to trade your plan. IMHO, your entry today could be good for a couple of points today or over next few days, but it could be the start of a core short position for an ultimate drop below 10. (For the trip below 10, my core was entered in mid 20s, but have a trading position at 22+ as well.) Good luck. Peace and Justice --- Patrick