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Strategies & Market Trends : The Options Box
QQQ 621.87-1.2%Jan 30 4:00 PM EST
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To: Jill who wrote (829)5/26/2000 10:34:00 AM
From: t2  Read Replies (1) of 10876
 
I thought I was bottom fishing on QCOM afterhours yesterday. I guess not. Only holding a very small position and may keep it for that reason.

The JDSU calls I will still consider but am going to wait until after the weekend at the very least.
Considered ETEK but there is hardly any real discount on that stock--2.2 times JDSU stock price.
It used to trade at a much bigger discount.
In the event of the deal not going through, there is a chance of JDSU initially moving up significantly--giving one the chance to get out. The short interest in this stock has been getting very large. Those playing the deal would probably cover, causing a surge (possibly) in JDSU to sell the call options. For that reason, JDSU is a better candidate.

Not confident that the selling is going to subside although I feel prices today are bargain if one's outlook is at least 6 months. Need a strong rally to change investor outlook so that money inflows in stock funds can start--especially some overseas inflows. Believe it or not, I think we need a lot of bullishness among retail investors (including mutual fund holders) for the market to go higher. I am doubting the contrarian indicator theory just a little bit. Looking back to last winter as the market went higher, bullishness among individuals increased, causing the markets to go even higher.

No wonder the stock market took such a dive day after day for a week or so----investors everywhere were taking money out of stock funds. Maybe that is about to reverse itself and the momentum can begin in terms of fund flows.
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