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Strategies & Market Trends : Tech Stock Options
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To: Judy who wrote (6540)3/30/1997 2:02:00 PM
From: Tom Trader   of 58727
 
Good morning Judy,

The short positions that I established in INTC and MSFT are short-term trades--initial target is mid $120s for the former and mid $80s for the latter. I will reassess the exit point based on market action next week.

BTW, I had posted last week that I was looking to be 100% long by the end of the month in anticipation of a tradeable rally. I have decided not to do so at this time given that the bonds have shown signs of breaking down. Needless to say that if the bonds go down from here stocks are likely to follow--not the environment for taking aggressive long positions. I'd like to see the bonds stabilize before committing funds on the long side in any significant way.

There is still the potential for scalping both on the long and short side--and I'll take those opportunities as and when they present themselves.

Talk to you later.
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