America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: chenys who wrote (2610)	3/30/1997 10:19:00 AM
From: James F. Hopkins	of 13594

Hi Chen:, I like that this is not physics, mind you . <G> you bet, and the big traders can switch which way they bias the program trading with out notice. I belive they have access to the amount of stock loaned out at any one time, and this gives them a big edge over thoes who don't ( like me ). My position is short via puts (leaps )..this takes care of any big crash..short term I'v played both puts and calls.. I know I'm sure to lose my last set of calls when she tanks. However if I would have hedged equally using calls I'd be well ahead of were I'm at..my placeing biger bets on the short term put side has not paid off. I'm now sticking with calls below the 50 DMA..puts when she is 20% above the 50 DMA..and the jan98 put leaps stays in place, to cover any sudden crash. I did buy 40 puts early thursday..at $1 based on her odd close Wed.. but I day traded them and came out of them in about 3 hrs at 1.5, this was because I saw the down draft..but I'm not sure that downdraft will continue..and a 50% profit in 3hrs always looks good to me. While I may buy calls from time to time, the bet is not so big and if she tumbles my long term puts will more than offset the loss on the calls. My biggest two mistakes has been not placeing, the same sum of short term money on the calls, as I did puts and, paying to much attention to the news. I'v seen her go down on good news or ( noise ) and up on bad. The big players are looking at something else besides the news or PR..they are likly timing the short interest. I'm not able to time the stock so I just have to play the short term "trends," and catch up drafts or down drafts after I see them , or when she gets to her 50 DMA limits. Volume on this stock far exceeds the float, so you know a lot of short sells and buys are being made. Jim

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