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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.39

+1.3%

3:59 PM EST

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To: Monty Lenard who wrote (44057)	12/3/2000 9:20:19 PM
From: chic_hearne	Read Replies (2) of 77400

I am sitting here trying to find something worth trading that looks like it is bottoming and these charts (weekly) look very rough. Monty, You know I am definitely one of the biggest bears you'll run into these days, but I am also looking at opening some longs. More as a hedge to my big short/put exposure than anything else. One we played before in the hundreds is starting to look like it might be at a bottom to me, INKT. It's down over 90% off its highs and the funnymentals haven't changed much. At $25 per share, it may still be high priced, but at under a $3 billion cap it is definitely more realistically priced than any time recently. I was thinking of going long at $25 and selling the July $25 call on the position for $9. For each 100 shares, this means putting up $1600 after the call is sold. I'm willing to take my chances that it stays above $16 and hopefully above $25. Should it stay above $25, that will represent over a 50% gain for 8 months which ain't bad IMO. If it drops below $16, well, let's just say I'll probably be retiring early from my poot exposure. -ggg- chic

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