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Technology Stocks : America On-Line: will it survive ...?
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To: James F. Hopkins who wrote (3700)6/29/1997 3:03:00 AM
From: chenys   of 13594
 
Jim: I remember I had once bot a short < 1 month put on AOL while at 45 declining to the 22+, for 3/4. It went to 11, but I did not take profit (what a greedy pig!) till the expiration day. U know what, in the moring it sat nicely at 29+-30 and I thought that was exactly what I suspected it 'd close that day. But u know what? They got out a rumor from the Germany joint venture about AOL (then AMER) merging with Netscape. This German venture is another scam operation. But anyhow, the stock went up 6+ points to 36 in 10 minutes leaving me holding my handset not knowing what to tell my broker to do. I went out for a walk, it came back to 32+ and I was so pissed off. The profit had shrunk 50% in 10 minutes from 10 1/2 to 5 1/2 and settled at 7 1/2. I decided that this dog was dead and (conceded I was pissed-i.e. emotional) exercised the puts. I rode it down to get my profit back and added more puts for the following month. Got lucky for two times thereafter by catching at the very top and selling at the very bottom on the zigzag down. What a scam! Now u know how much I have been through with this dog. I just love this scum, because it always kept me on my toes.

I do risky stuff w/ my money. I just can't tell people to do the same.
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