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Theo,
Sorry about the delay but I lost your post with a few others.
We have no magic system when it comes to buying equities. As I have said
before, when we get a buy signal on our S&P futures, we follow that signal
by trading our equity accounts in the same direction.
In terms of picking stocks, we use Value Line and choose their 1 - 1 picks.
These are companies that they calculate will perform better than the general
market and have their highest safety factor. We also tend to stick with
high tech companies and don't invest in dot.com of like companies.
In terms of your H&S chart, I'm sure we would have been hesitant to buy
BRCM, but as I've said many times in the past, we don't chart. Our system
is pretty good at picking inflection points (and terrible in trending
markets, like our buy signal of 8/3 or whatever that date was). Whenever we
get a buy or sell signal, the corresponding chart looks terrible. Doesn't
make for sound sleep, and the buy signal for when the DOW was down over 450
points on the open, sure caused me to hesitate in buying more. I stood
aside and kept my equity account un-margined. My brother, on the other
hand, jumped in and bought a few more S&P futures after the open as well as
more Intel and TSM. He's up to 80% margin. Since I don't work any more, I
tend to be a bit more cautious. He is making a ton from his rep firm and
just plows it into one of his trading accounts. Because of my conservative
trading I didn't buy CSCO under 50 like I wanted to and I didn't buy INTC
either.
Regards,
Guy
Politicians and diapers have one thing in common. They should both be
changed regularly and for the same reason.
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of T.E.M. Lockefeer
Sent: Thursday, October 12, 2000 3:47 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Pulling the trigger
Hello Guy :
I suppose you understand why i am very interested in the fact :
Why bought Guy BRCM ?
( you probably know i am short on BRCM : look at earlier postings)
some of my reasons :
1) Fundamental : Value worth according to a good source about $35).
2) Insiders : large insiders (like CEO) sold in the $270-$220 area.
3) Technical : first attack on neckline of H&S on 11 /10 (yesterday).
So : please give some of your reasons (without telling about your systems
secrets).
Thanks
Theo Lockefeer.
P.s.1) PMCS : could go down again today, like OCA,
no buyer yet of SEBL, others no data yet.
P.s. 2) We are not far away from a new Nasdaq year low !
----- Original Message -----
From: "Guy Tann" <grt@xxxxxxxxxxxx>
To: "Metastock User Group" <metastock-list@xxxxxxxxxxxxx>
Sent: Wednesday, October 11, 2000 6:17 PM
Subject: Pulling the trigger
> List,
>
> Well, I couldn't wait any longer and have bought into this debacle. I
> bought more S&P futures in the 1377 area.
>
> I also bought some more equities. BRCM (219 3/8), SEBL (93 1/2), OCA (26
> 7/16), WATR (27 3/4), PMCS (160 1/4), DGX (124 7/8) and IVX (45.66), for
> what it's worth.
>
> Remember, this post is worth exactly what you paid for it. :)
>
> Looks like the market may be turning a little to the upside so maybe
waiting
> helped us out here. That Broadcom fill would have been one heck of a lot
> better on the open, but I've come to the conclusion that you can never
pick
> absolute bottoms.
>
> Anyway, hold on, as we're back in the market on the buy side. And all of
my
> fills are listed here, warts and all. Now let's see if this H700 signal,
> with its increased weight in our system, can continue it's 20 month win
> streak. I just hate giving anything back.
>
> Regards,
>
> Guy
>
> Politicians and diapers have one thing in common. They should both be
> changed regularly and for the same reason.
>
>
>
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