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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Doug Robinson who wrote (34917)	4/19/1999 7:56:00 PM
From: Jenna	Read Replies (4) \| Respond to of 120523

When I go over the events of the day I see(I was able to get out my profitable positions from Friday including getting back over 2 3/8 points from SEBL which had been up 5 until Friday's small point pullback, Message 9002861 I was able to get out of USWB with a profit and even WEBT with a profit. I had gotten into TYC, lost a profit on LXK, and into FWRD and the OEX puts, my blunder was in getting into NITE, EGRP, GNET a bit early although they had tanked quite a bit before getting in.. the options were half of what they were trading at on Friday, but considering the results of the rest of the market it wasn't half bad. I had been explaining all week the importance of of getting into small (up to 10 contracts)option positions of the 'net stock and would not have ventured 'real big money' into them because of the lesson learned from last Monday. I recall having traders ask if NITE was good entry at 80 etc. I said it didn't look like it had bottomed but then at about 78/79 I got into the options.. same with GNET and EGRP. I had gotten to a point where the RSI line was heading back up and I thought we had a short term bottom, but nothing doing. I'm about 2-3 option points down on each of the three options the few points I made in the OEX puts and the two stocks, it wasn't so bad in retrospect. My lesson (I always learn something from each experience) is to practice a little more what I preach.. having said there was no bottom I should have just stayed out. I think my fear was losing the entire option but now that I look at them, I only have to make up about 2 points on an option.. and that could take 1 or 2 trading sessions. The down part is that if this continues too much longer I'll face losing all three options, but if that were to happen the NASDAQ would have to have 2 more days like today and the cost to investors and traders alike would be astronomical.