JANUARY 1997/BEST OPTION PURCHASE Message Board

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Strategies & Market Trends : JANUARY 1997/BEST OPTION PURCHASE

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To: wiley murray who wrote (44)	12/30/1996 1:51:00 PM
From: Brian Hornby	of 84

Wiley: I bought ZQI MJ (Zitel Jan 50 puts) today for 3 3/8. I think the Jan 6 news is already well discounted, and that the rally (squeeze?) is running out of steam, at least for the moment. Just a small position, so if I am wrong, no problem. How about the earnings projection after the year 2000? Do we have to wait another 1000 years? <g> Also I bought some Jan OEX puts today - I think a few down days are in order, then the bull market can continue. So you may be right for the general direction, but I am betting on a couple of down days right about now. You may be right about the Bells - certainly the momentum looks to be there. Note that Zitel action will have nothing to do with what the market overall will be doing... Brian

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