Lam Research Stock Swap? Message Board

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Technology Stocks : Lam Research Stock Swap?

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: DRL who wrote ()	8/27/1996 7:32:00 PM
From: Paul Moerman	of 13

DRL: I'm in the same boat. I think AMAT has more price risk at current levels than LRCX, so would not go that route. I don't know enough about Novellus. The approach I've been taking is to write covered calls when Lam gets to current levels, then either buy them back later and pocket the profits (if Lam declines) or let them expire and write new ones. The October 25's right now are fetching 2 1/8 to 2 1/2. You could even take a look at December 30's. If you sell now, and buy back in 30 days, how will you know that you are not paying too much even then? What if Lam is still in the 24-25 area then? Personally, I want to own more at prices between 20 and 22, but since Lam is already worth about 10% of my portfolio, I know I should be looking elsewhere. I don't think the snapback will happen for another 2-3 quarters, but when it happens, it could be explosive. Just my opinion, but you DID ask! <g> Paul

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