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Pastimes : Home on the range where the buffalo roam

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To: Sam Sara who wrote (8292)	1/2/2001 11:20:24 AM
From: mishedlo	Read Replies (1) of 13572

Sam, I did not short anything today. I did add puts on HGSI at the open and IBM when it was at 86. I used a tactic on RIMM that I saw Greg use quite successfully and quite often (adding to a position over time). I first bought RIMM PUTs when it was at 76, and I kept adding every time it bounced off 80. I did that about 3 times. I figured one time it would bounce off 80 hard. I believe I have seen Greg do that with some stocks (PEB and NTAP come to mind) until the market turned into his favor. I will continue this tactic until it stops working. The only difference I I am doing this on the short rather than the long side. I do not need to catch the top (but it seems I did on the last batch I bought), I just need to be right. Unlike NTAP, QCOM, or JNPR, I do not think RIMM will turn around as fast. I may sell some at 60 then again at 50 as an exit strategy. I do not want to be greedy with options. If I was short, I would just ride RIMM to 30 or whatever. M

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