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Technology Stocks : America On-Line: will it survive ...?
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To: CLAUDE JOHNSON who wrote (3731)6/30/1997 8:58:00 PM
From: James F. Hopkins   of 13594
 
I Did that once; for just a little while, I save half my puts
because I saw them as free..then thought about it and said well
that cost me an extra $30 commision by not dumping them all,
to top it off they went down in price. so I don't do it any
more..I sell the whole mess , I may buy in peice meal averaging
down..but when I sell any more ; they all go pufff .
My commissions are $ 30 for the first contract $ 1.25 each after,
to split it I get hooked with that first $30 twice..and if I'm
willing to take xx for these why not xx for them all..and on
each run up or down the hill this puppy makes I don't chase
her..she gota give me back the puts I sold Friday at a cheaper
price than I frist paid or I don't mess with her second time
on the same run. If she goes to either end I'll start over.
I stay with some Jan puts..as one day I expect her to not open
on time..it may be some time from now..but some funds when they
dump..they will call the other funds and they will all
negotiate before the bell..the one will get out and the others
pick it up..maybe with a $20 drop all at once..you'l hear some
news, but thats just there for an excuse..the fund had to sell,
and that was that. Let one of the many funds that owns AOL get in
troble and need to raise cash..that will do more than all the
news or earnings reports or law suites or any thing else.
It happens all the time in this sector..only the biggest of the
blue chips have enough shares out that a fund selling out don't
send them to the garbage.
Jim
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