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Technology Stocks : LSI Corporation
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To: rairden who wrote (18827)6/11/1999 9:10:00 PM
From: Beachbumm  Read Replies (1) of 25814
 
Rairden, I am not surprised by LSI's strength but very surprised by the timing of it. I sort of figured we'd get a little run up in early July prior to earnings. The market cap is now about 6 1/2 billion or three times expected sales. Sure seems top heavy but who can fight the tape on this right now? If they open a 50 series on the July calls I might be tempted to do some covered writes with the hope/expectation of bringing them in at a nice gain. Fortunately, for the first time in a long time I have the supreme luxury right now being able to totally ignore LSI for the next year or so thanks to some well timed trades in CPWR and AMAT puts. I am, as it were, sitting pretty, and it sure feels good after a lousy '98 when every thing I executed seemed to go awry! I certainly expect LSI to blow past the old all-time high in this cycle (and interest rates be damned, Dipy, full speed ahead!) so my best advice is to hang tough.

Beachbumm
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