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Technology Stocks : AboveNet Communications, Inc. (ABOV) -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (548)	5/6/1999 10:29:00 PM
From: flish	Read Replies (5) \| Respond to of 835

I've got no idea where this stock is going tomorrow, the next day or next week. Either do you. But here's a story. My intent is not to brag but to help all the worried longs feel better. I am no great trader and have no amazing knowledge. I bought ABOV the day of the IPO, 12/11/98, as it fell from 21, thinking I caught the bottom at 18. Check your charts and my early posts. I was so stressed being down 6 points when it hit 12. I quit watching for awhile and the next thing I new it was at 29. I sold. It ran more and I bought at 29 as it retraced and it dropped and traded 24-26. I was so stressed. I quit watching. I came back one day and it was at 72. I took half profits and was giddy. I went on a two week vacation late March to early April. When I came back it was at 140. I got greedy and didn't sell until it tanked to 120. Since then I have day traded it a little -- made some small cash. The other day I reentered for all the reasons one might reenter at 89, 86 and 83. Over the last few days I've been stressed. But the only thing that has changed is that ABOV has gotten stronger and more recognition from the market. Now there's a down draft. My advice to myself and anyone who cares to take it (Of course it's worth what you paid for it): If you are long quit freaking on every detail or one one minute tick. Now is the worst time to sell if you can hold for awhile. Go watch a movie, get some exercise, take a trip -- relax. Come back in a few weeks and the stock will likely be soaring. If not, go away and come back in a few months. 1. It is a leader in an emerging sector -- big bandwith, they've got and everybody wants it. 2. It is a young growing company with upgrades, stock splits, SPO -- all that goes with an emerging growth company. 3. It is almost 50% off its high. 4. Do you really think Oppenheimer is going to sell 4m shares to its clients at 85 and allow the stock to stay under 85 forever? You'll be fine. Now if you are pushing your margin and have to get this capital back now -- well that's different. That's tough and I don't know what to say. Good luck to all. I have never posted about my gains as I believe it is sort of lame and hurts your credibility. But my true intent is to hopefully make some of the worried folks feel a little better. As I reread this it sounds pretty lame. But oh well, that's my two cents. Time for a little must see TV with the family. Best of luck, peace and grooviness to all...flish