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Technology Stocks : All About Sun Microsystems

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To: FiloF who wrote (18448)	8/3/1999 10:44:00 PM
From: Haim R. Branisteanu	Read Replies (1) of 64865

Filo, SUNW was unable to penetrate the $72 level for several days. I use a 3 day rule, due to the stock settlement period. Usually brokerage houses sell their inventory after a 3 day push. Intraday chart looks like the stock may move higher SUNW must cross the 72 level for a breakout. The market seems weak, even that I anticipate a weak a bounce. If I would be long SUNW I would sell into strength. Alok's strategy is also advisable to sell covered calls and buy with the proceeds puts. We are in interesting times. Watch the dollar and the CRB who crossed resistance today and the treasury closed the at the lowest price since 1997. Not a great time to be long. My general feeling is that this time the market is gone as a wealth generator. Personally I am out in all accounts with a relative small short position (not in SUNW). SPX 1280 is important support. BWDIK Haim

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