Dear Pascal,
Sorry for the tardy reply. It is almost 11:55 am, and I am just having my first cup of coffee!
The stock-market jitters bothered me a lot this week, I guess. Or probably I was more nervous about my June options.
My options broker just phoned me about five minutes ago. He said "What are you doing, partying?" I said "No, I was asleep." He was so surprised. He said, "I wondered why I hadn't heard from you."
Anyway, he told me that my senior broker said I had sold my last shares of Komag. Now it will probably shoot to 60! I don't have enough information on the company to wait, especially when there are so many other companies out there that I know better.
I understand Ascend bought a new company today. I don't recall the name. I forgot to tell you, but I bought July 60 calls on Ascend. I hope you think that it is a wise move. I believe the only other thing I've done is to buy puts. And I am also investing in the little wireless company, CAWS. I am actually buying shares. So is my option broker.
Yesterday, was quite hectic. I took my cat, Mephisto, to the vet. They think he has asthma. Evidently cats can get it. The medication that doctors use for people also works very well for cats, even better. My vet said he went to a conference where the speaker said that the drug companies experiment on cats with the new asthma drugs, because cats can tolerate cortisone better than people. He isn't seriously ill though. The vet gave him a cortisone shot. We will give him small doses of antihistamines for a week or so. I was really relieved. I don't have kids so Mephisto is my baby.
I've been having problems with my cell phone. I talked to AT&T. They told me to return it to the company where I bought it. The company checked the programming, and for some reason, it had been programmed slightly differently from the others. I hope this takes care of the problem. I really need a second line because I spend a lot of time on the net.
SUNW is a very good company. I've also had tremendous profits from my investments.
Intel has been upgraded. I'm not surprised they have proven time and time again that they are a super company, they are chameleons, in the technology field.
I forgot to ask my broker about the Labor Dept. Report. The DOW is down so I guess it must have suggested a hint of inflation.
Even if inflation increases a bit, I heard on the radio the other day that US corporations have become extremely efficient and productive. So even if there is some wage pressure, they may be able to absorb it without hurting their profits.
I do believe there will be some wage pressure. Most people wages have not gone up that much, and I believe there is room for improvement in that area. I also believe the government could somewhat dampen the effects of serious inflation by encouraging people to save more.
I believe they should allow people to invest more in their retirement accounts. This would raise additional capital for companies and people would be investing in their future. I believe I told you I am only allowed to contribute $2,000.00 a year to a retirement fund. And the $2,000.00 that I initially invest is TAXABLE.
Just heard on the radio that traders are still worried that Fidelity Magellan will dump the 12 million or 12 billion US treasuries that the last manager, J Vinik accumulated. If Fidelity dumps those treasuries, traders say the market cannot handle it. That guy Vinik has caused so much trouble. He resigned recently. My senior broker told me last summer that Vinik should have been fired. I agree.
Hope you have a nice weekend Pascal.
Best wishes,
PS Either Netscape or SI cuts me off when I write long messages. Has this happened to you? I wonder if there is a limit on the amount of time you can spend responding to a message.
It is very inconvient, because I have to copy everything that I have written over to MSFT Word, re-open SI and paste it in. |
