Presstek -- Stock of the Decade?? Message Board

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Technology Stocks : Presstek -- Stock of the Decade??

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Sep 29 10:16 AM EST

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To: Hugh W. who wrote (724)	7/10/1996 9:35:00 PM
From: Richard F. Hubbell	of 11098

Nice work Hugh! It seems that you and I are approaching this stock in the same way - guerilla warfare - hit it and get out. You got it perfect today. Tomorrow I would watch SelectNet (starts at 0900 EST) for any front runners - and to get early indications. If it opens lower, buy it at the open. It usually runs up around 10 to 1030 and then weakens. Sell it when you get about a $3 to maybe $4 move. I wouldn't short it right now unless you back it up with a close stop-loss at say $2 over your sale price. Also, if you want to short it then you could sell a July put (which would be married to the short) at a strike price close but under the short sale. That would give you a little upside protection if it takes off, then you could place your stop-loss higher at say $4 above the short sale. Buying the put back when you close out the short will be costly though because they have the spread cranked up. Another way to play it if you really want to short is to open a second account with your broker and go long the shares in the other account at the same time you sell short in your original account. Then if the market really moves against your short you can always just transfer the long position over to the account with the short position and cancel the whole thing out, although there are many better variations and possibilities to profit from that particular arrangement. Your price points look good right now but tomorrow is a new day - so watch it early on SelectNet and go from there. Good luck. RH

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