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Strategies & Market Trends : Advanced Option Strategies

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To: Joe Waynick who wrote (61)	7/29/1998 8:59:00 AM
From: Joe Waynick	of 355

ONSL UPDATE! ONSL earnings came in at -.21 per share. That's +.01 better than last quarter, -.01 worse than estimates, and -.20 worse than last year. OTOH, sales increased a whopping 170%. Stk closed yesterday at 26.625. DOW down 200 points at one point and ONSL dipped to a low of 25! Darn!!! It would have been nice to grab that 2nd trade and lock in 7k. CFO said on CNBC this morning that ONSL is experiencing growing pains and that they are on target. He did a good job putting a positive spin on the company. There still is no clear indication on the direction of the stk. It's sitting right in the middle of the BB/RSI indicators. As I said in a previous post, I've cancelled the buy-to-cover at @ 24.50 to "wait and see." I will get out with a profit either way and will hold on to my straddle as long as the value remains above $11. Waiting as long as possible will give the market time to decide how it will treat this stk. If the stk remains flat for a few days, I'll enter the buy-to-cover again and wait it out.

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