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Guy Gordon wrote:
>
> Jim,
> Forgive me if I mis-interpret what you wrote, but are you saying you
>
> would buy ASND at 50, and put a stop at 49 3/4? Sounds like a
> guaranteed way to loose two bits per share. :-)
>
> ASND has already broken its short term trendline, so I expect more
> downside. Perhaps as low as the 50-day MA at 47. If it does, I plan
> to buy a good sized chunk (for me), and then hold it long-term, while
> selling covered calls and maybe some puts.
>
> On Tue, 3 Jun 97 19:12:49 UT, you wrote:
>
> >Guy,
> > I never had covered calls on ASND because it hit my stop before it hit my
> >covered call sell price <G>. I would be interested in getting back in ASND
> >near the bottom of my short term up trend channel which is currently at 50.
> >However, I'd have to be stopped out of something else first to free up some
> >funds. I'd set a close stop at 49 3/4.
> >
> >Jim
> >
> >-----Original Message-----
> >From: Guy Gordon
> >Sent: Tuesday, June 03, 1997 12:51 PM
> >To: Jim Greening; metastock-list@xxxxxxxxxxxxx
> >Subject: Re: ASND
> >
> >Hey Jim!
> > I see that ASND is coming back down, along with the rest of the
> >networking market. I'm looking for the right price to buy back in.
> >
> >Did you sell your covered calls? Are you planning to buy them back?
> >
> >ASND reached the bottom of my short term channel today at 51 1/4.
> >The stochastics and RSI are still saying sell, but I'm thinking buy.
> >I think the low might be at the 26-day MA at 49 3/4.
> >
> >Your thoughts?
------------------------------------------------------------------------
I'm new to this forum having just bot MS. But I've been investing for 40
years lately mostly in commodities. I also have a few shares. And
a lot of grey hairs.
I just want to mention to those that follow the "Techs" I hope they
are charting things like the Philadelphia Semiconductor Index, the ASE
Computer Index and others like this. Don't get caught up in the
hype on most of these computer stocks. These things remind
me more and more of the Color TV hype put on many years ago. Half
those stocks are out of business now and the rest are having a hard
time making a buck. Companies like Dell, Compaq & Gateway really
don't have much that is proprietary. All they do is screw the things
togeather. And most of the others often find themselves outpaced by
others with a new idea. I average a lot better than the S&P by not
buying those stocks that gap down 25% when you least expect it.
--
Bob Doeden
Chicago
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