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Politics : Idea Of The Day

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To: Cynic 2005 who wrote (12757)	10/25/1997 7:17:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

Mohan I have seen this time and time again- these techs have been brought to earth many a times the last being July where ALTR MU came as low as 28 and 17 I also saw INTCW 21$ after rumour of bug- I have been in techs for long and have been quite satisfied- because all my returns are basically from tech- in July 1996 I have written this several time my portfolio was slaughtered but I learnt one thing that my best opportunity has been buys I made during that time, markets do tend to overshoot on one side or others I think a region which gives only 6% of US corporate profits i.e. ASEAN will not be able to make a lasting impact- one can buy a put spread Dec 920's by selling Dec 860's-1/2 1 option gives you 500,000$ protection and that is what most of the sophisticated investors have already done- so just imagine if they keep dragging this market down this huge overhang for me is in a very short time going to be a cause of a covering rally- I have seen my profits from these companies and I know nothing fundamentally has changed to bring these stocks at these levels. I am looking at 98 numbers and now SOX at these levels provide enough justification to secure my self below 940 what I have done already but keep finding the right stocks- JBIL has been recently raised to a buy- AMAT and TXN are at verge of turn around- shorting at these levels is a disaster recipe- you can buy Dec 920 gives an investor more than ample protection but put premiums disappear very fast and mu advised would be not to do anything then shorting the stock- SOX at these levels is a buy and time will proove it.I am going to cover my put spread which I have placed on close of Friday max by Wed - or even tommorrow seeing the close- to selll these stocks at these levels is not a right step.

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