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Technology Stocks : PSFT - 1997 Outlook [closed thread]
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: Chuzzlewit who wrote (277)9/4/1997 3:22:00 PM
From: Robert Graham   of 940
 
Very intelligent respond there, Paul. I see you have been around the block a few times. ;)

Hmm...a short interest of about 5% of shares outstaning. This is becoming significant. I dumped my options at over a 50% profit when the stock predictably found resistance in breaking through 61. I can always pick back up after the breakout form this resistance point.

The technicals no this stock have been substantially impoving. The recent news on this company has been very favorable. If I was not looking at a 50% profit in about one day and the funny market conditions, I would of held onto my Sept 60 CALL options. Tomarrow I suspect will be a volitilel market day. The unemployment and horly wage figures are coming out then. Briefing.com is predicting news that the market will react to in a negative way. And it is a Friday which recently has become synonymous with the word "volitile".

I plan on picking up new options on PSFT in the near future. Perhaps those Oct 65 CALLs. However, before PSFT continues up much further, I suspect there will be a correction, however minor. Once the stock corrects and validates a support level then I wil purchase more options on this stock.

Bob Graham
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