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Technology Stocks : America On-Line: will it survive ...?
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To: Michael Strope who wrote (2851)4/13/1997 10:05:00 AM
From: James F. Hopkins   of 13594
 
HI Mike: I will try to express the proceedure better in a letter,
but it will be latter, I got taxes..among other stuff..
rains have been heavy and exposed the fact I need to put a roof
on the house. Also getting calls to go back offshore..and Capt.
wages are back up, so I may do so before this exploration rush is
over. Could be my last chance to take in some respectable wages,
and the market will be here latter..the Capt. jobs may not be.
I want to expand on the idea but it's going on the back burner
for a while. Take Care..and remember options are not just risky
the Bookies get a bigger cut than they admitt..I call it a
hidden spread..takes a lot of work to over come thoes odds.
Don't ever short sell unless your covered.
Last don't just get the idea Short Sellers kill the price of a stock, many times they support the price, ( this seems to be a
missconception among a lot of people ) it's all in how they
do the buy backs. If they use the profits to buy back more than they
sold they ( it helps the stock price go up ) and in turn keeps the value up on the calls they hold as protection aginst a short squeezz.
In short before they cash in they sell the calls they had, then the
accumulation. That's why I watch call positions..as a "sometimes" leading indicator , remember AT&T
before she did her big dive..a very big call option was sold,
by an insider at that, he sold the calls she took the dive,
and he bought them back for pennies on the dollar. So when you
see puts/calls you can't just say one is bullish the other is
bearish..as what is behind them can be just the oppisite from
what it looks like.
Jim



They plan on selling sooner or later, if a stock hits the target or better, but no more than any one else.
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