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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.08

+4.2%

3:19 PM EST

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To: Ed Forrest who wrote (52286)	5/4/2001 8:41:14 AM
From: Wyätt Gwyön	Read Replies (3) of 77398

Ed, i would be cautious about the "flip for a buck" strategy. in my gambling days, i found such strategies a distraction from opportunities for really big advances. anybody who had a big QCOM position the day it went up $125 knows that one-day advances can be rather large, and the people on board are not usually the scalpers and the call sellers imho. the problem i have with the flipping is that it limits on the upside, and if there is a true downside break, there is not really the downside protection. toward the end of my phase of gambling on tech stocks, i became entranced of buy-writes (sell covered calls on purchased stock), but i came to view this strategy as similar to the "flip for a point" strategy in terms of limited upside as well as substantial downside risk. as i recall, you were happy here one day about making 10K on cisco in a day when the stock was around 47...what if the stock had gapped down on you to 42...then 35...and so on, to where it is now? that is the sort of slippery slope i mean. all the above is just my humble opinion and is not meant as investment advice.

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