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Politics : Formerly About Applied Materials
AMAT 297.57-6.6%3:59 PM EST
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To: Ian@SI who wrote (45403)4/12/2001 4:38:18 PM
From: Jacob Snyder   of 70976
 
re: The last bear capitulated

Not quite. I watched NVLS get up to 48 and stall, as it has about 5 times this year, and bought a bunch of puts on it at the close, 2002 50s, for 12.9$ and 13$. Got the cash by selling the CSCO calls in my IRA (made a modest profit). Decided to use NVLS rather than AMAT, as NVLS is closer to its 2000 high, and further from its more recent low, than AMAT is, so I figure there is more air in it. I'll think about selling the puts when NVLS goes back to 37.
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