Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (6266)	10/14/1997 4:34:00 PM
From: Richard J. Byrd	of 94695

Bill: I bought long calls, Nov. INTC, strike 100, and long Nov. Puts, strike 85. Yes, the fast fall in INTC this morning led me also to believe that the "smart money" knew that the earnings report would be bad, * BUT* between 2pm and 3:30 the stock flew up in value,leading me to then believe that the earnings report leaks were indeed out and the report was to be BULLISH.. I took my chance and sold my Puts late in the session, leaving me only long on the spread. This is risky, but somehow the late runup was just too much of an omen that the earnings report would be good. We'll very soon see! Dick

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