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Technology Stocks : America On-Line: will it survive ...?
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To: yard_man who wrote (3556)6/24/1997 1:21:00 PM
From: James F. Hopkins   of 13594
 
Barry; well she is weak in as much as she has slid from 62 to 58,
if the slide continues she will break down. Bad news would be just
one of the many mutual funds that owns her selling off..but you
won't get it prior to the sell off, and I have no idea that will
happen any time soon. If she has the "inner connections" to land
a big government contract that will wipe us bears out, lacking
that she is sooner or later dead meat.
I played a long shot on this month, it's real risky so I didn't
bet much. I got the 50 puts at 1/2..as there is a lot of OI
in them that bought some time back at a lot higher price,
if she starts down much more I'l have a built in market for mine,
as the older ones will try to average down, and I'l let them <G>
The key to options is to remember "most" people lose money, so
buy cheaper than "most"..chart the pool you are thinking about
and get in well under the crowd or pass.
Small OI is only good if in the money, look for large OI ( open
interest ) if out of the money and see were they bought in at
sort of gives you a side door, if she don't do what you think
she will., thats how I managed to play them while she was going
up and still not lose my rear, I had a built in market to exploit
on any small dips, it's not there if your at the high end of the
option cost.
Jim
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