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Technology Stocks : America On-Line: will it survive ...?
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To: James F. Hopkins who wrote (3505)6/19/1997 5:47:00 PM
From: yard_man   of 13594
 
Hope adobe works out, maybe calls would have been a better way to play the bounce -- I may put it on my watch list. I want to see a base form first before going long any issue that has a significant decline. I broke this rule a few weeks back when I followed MB into the FPF fund. So far it's worked out but I've been burned that way more than once. I guess it's a matter of feel.

Boy I sure want to in puts or short AOL when she crashes! I just don't know what the signal is going to be. Earnings (the lack of any real earnings, that is) doesn't seem to have any effect. Those biotech companies that burn cash for years at a time in the hopes produce one or two blockbuster drugs seem like much better bets. AOL is finished already -- just a question of when the stock price is going to "confess." Look at all the bad news about slowing PC growth -- hasn't dented the stock prices of GTW, CPQ or DELL. These bulls are tenacious critters, eh. When the towel finally gets thrown in on some of these stock which have been bid up to unreasonable heights -- discounting the perfect future -- it's going to be ugly.

Sold some calls (about a month ago) against two positions that I have in GEMS. Sold some June calls @ 12.5 and some @ 15. The 12.5's will be sure to be exercised and the 15's likely. I'm going to breathe a sigh of relief to have a little less money in the market for a while. If GEMS can break below 13.5 or so I may pick some back up, but not the full position. Going to be looking for opptys going forward to lighten my load in some other positions, too.

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