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Technology Stocks : America On-Line: will it survive ...?

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To: yard_man who wrote (3828)7/3/1997 1:15:00 PM
From: James F. Hopkins   of 13594
 
Barry; you got to use judgement..MB does not daytrade..he buys way
out front..that's a horse of anther color. Short term you got to be
fast on reversals. I got niped this morning , but I came out just
the same and fast to..so I still have some dry powder ..if
she moves on up..but I have leared a lot from MB..and I know he has
his reasons for buying out front..and they are begining to make
more and more sence to me.. I said yesterday looked like they were baiting in shorters, and you bet they shorted at 61..put them stupid
stops on and the powers to be looking at all the stop loses jumped
her up to get them..if some is going to short they should have calls
bought out front some where to cover their rear. I could likely do
better with the puts if it were not for the stop losses getting
took out every time a new gang runs in to short her.
Keep an eye on the Jan98 32.5 calls..don't forget I told you it
was cover for the professional shorts when she drops big you will
see that position was sold off first.
Jim
PS In spite of the rally PZL is coming my way, as is ADBE..guess
I know know why I dont just play one puppy..also sold
some long positions this morning, they can let the profits run
if they want to..market is a bit toppy for me..I'm going bonds
and may not buy any more stocks till fall..I got a couple of
losers I didn't kick out becaue they have so little down side
left..when I close the rest of the options..if I do buy more
it'l be leaps..or I might come i if I'm not out on a boat, and
I see the maket tumble..even wmt and ko are way over priced..
let interest rate fears resurface in August after this run up..
an you can short every thing.
Jim
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