Phlip Morris (MO) is a BUY now Message Board

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Non-Tech : Phlip Morris (MO) is a BUY now

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To: John Carragher who wrote (32)	4/19/1997 8:04:00 PM
From: Patsy Collins	of 41

MO and the other tobaccos have been very good for us. But we are now out of MO stocks completely. All our tobacco monies are in options. Your decision to sell MO should depend on your objective and time horizon. I think MO will be very volatile for another 1-2 weeks. Because of this, we have been heavy sellers of both call & put options in the past 2 weeks. We plan to buy back all our options, hopefully at much lower premiums in 2 weeks. The Barron's analysis makes a lot of sense, but I think the momentum for MO is up, perhaps a little consolidation on Monday/Tuesday to 40-41, but I see 45-50 in 5-7 days. I don't think it will break 50 to 60, as Black predicts in WSJ. (I hate to make predictions on stocks, but MO has been a darling to me this year..) Interest rates should be your main concern, not the fabulous earnings of the S&P 500. As rates goes from 7 to 7.75%, multiples in the 500 will appear to investors as more & more excessive. I do not have any position that is more than 30 days old now. Stay alert at all times and watch your real-time CQG terminals.

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