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List,
Well we finally got an up day. Hooray!
We felt that the NASDAQ was oversold yesterday and we bought more stuff this
morning (unfortunately we didn't buy enough).
Now, FWIW, the rumor on the street in Silicon Valley is that there is going
to be a DRAM shortage in Q4 and that companies like MU are great buys. We
bought some on the open today at $60.50. People in Silicon Valley also like
TSM, which is still a good buy (in their opinion). These recommendations
are worth exactly what you paid for them (my disclaimer) but we are buying
these and putting them away through yearend (this would be a long term
capital gain in our vocabulary). :)
My brother also bought PMCS and SEBL last week and they looked pretty
healthy today.
While our stocks aren't doing too badly considering the disaster of the last
two week, our options are biting the big one. We own about 50 of these OEX
options and 50 QQQ options and while today helped, we need about three more
days like today to get well. Keeping our fingers crossed. I think we hit a
support level on the NASDAQ yesterday and we're in the process of bouncing
off this support level. Let's hope this isn't a dead cat bounce. :)
Now, remembering our last trade, we were on the wrong side and came back to
breakeven. That would look good to me right about now. :)
In reviewing my option trading so far, I'm running 75% correct, however the
return, to date, has been a paltry $9,000. Hardly worth the time and money,
so we're going to spend a lot more time and effort looking these over.
Guy
" When I die, I want to go peacefully like my grandfather did, in his sleep.
Not yelling and screaming like the passengers in his car."
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