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Technology Stocks : RF Micro Devices (RFMD)
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To: robert duke who wrote (848)9/3/1999 5:02:00 PM
From: Retire@40  Read Replies (3) of 4849
 
Robert...bought RFMD back today at the close...it's going to show a tick up on the daily, and the stock broke the downtrend on the hourly charts. Looks like it may go back to the high of 48 7/16(where I sold) and could go beyond. When and if the stock pops at the open on Tuesday, I am going to go in and buy 10 Put Sept. 42 1/2 contracts. They are asking only $1 right now and with a one or two point pop Tuesday morning should only cost around .50 cents. $500 of protection for a down move will protect any profits and make money on the way down. This way I will only potentially be out around $500 but will protect my 1000 share purchase today. May even buy the 45 Puts if they get down to a $1 on Tuesday. Puts are really cheap for RFMD because nobody expects it to do down for any extended period. This provides for a good and inexpensive way to go long with some protection against the markets mood swings. When October rolls around, I will do the same. I am thinking for every 10 points on the up side, I will sacrifice 1 point worth of profit and buy puts to protect my profits. Don't want to miss out on any explosive announcements the company may make soon. In addition, with earnings announcement only a month away, the stock may start a run going into earnings any day now.
FWIW,
Emac
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