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Technology Stocks : JDS Uniphase (JDSU)
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To: jmac who wrote (18953)2/21/2001 10:59:15 PM
From: FR1  Read Replies (1) of 24042
 
jmac - I lost more than you. I did learn a lesson. Tragically, it came too late to save most of my losses. The lesson is this: in highly volatile times, buy protective puts.

I buy them 2 months out and a strike price lower than the at-the-money price. They cost about $3.5 - $5/share. My last puts ran out friday and I bought new ones. Tonight, after hours, I hit my put price with AMCC and QCOM and I can not lose any more money even if they go to zero.

The big portfolio test:
1) Can you sleep nights.
2) Can you watch CNBC during the day with no worries.

If not, you need puts.
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