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Date: Fri, 21 Aug 1998 16:08:17 -0500
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From: Harley Meyer <meyer@xxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: oex: panic that never was
References: <199808212052.KAA11291@xxxxxxxxxxxxxxxxxxx>
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Gary,
I have been watching your posts out of the corner
of my eye. I trade stocks and one thing I noticed
when the DJIA and the NASDAQ took it's last big
plunge today. The two stocks I was watching ONSL
and AMAT stopped falling. They had fallen enough -
the sellers were exhausted. I decided to cover
because the price held steady during that final
sell off.
What is my point. I normally short stocks and I
too have this demon in side of me that tells me
from time to time it will go lower. But then the
buyers step in and it turns around to go higher. I
get greedy and I get less.
But this time the market spoke to me for the first
time in a long time. Don't get me wrong I did
leave something in the market just in case. But I
do expect AMAT to move up on Monday. I'll short
the rally if it does.
And talk about lucky, I was able to cover 1/16 Th.
above the low of the day on both stocks.
Harley
Chanukah wrote:
>
> Oh well,
>
> i was too stubborn for a "crash" so i kept all my puts, maybe this weekend
> something will happen? I like what jerry favors had to
> say........."sometimes the put guys are right".
> the 515 is still higher that i purchased the 4 at 7, and the 500 i got at 8
> is down a bit.
> sometimes you have to go for it though, which i did/am still.......waiting
> on a crash.
> i should of taken profits when we were above 4.00 on the trin thing though,
> oh well.
> next week should be interesting.
> happy weekend to all,
> gary
> hawaii
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