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Technology Stocks : BORL: Time to BUY!
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To: Mark Bracey who wrote (6927)10/27/1997 2:22:00 PM
From: Michael Coley  Read Replies (3) of 10836
 
RE: BORL and "Correction".

I think BORL is holding up as well as any other tech stock.

I've been about 40% cash for a few weeks, but need to take another 10% out sometime in the next month when I close on my house. I was close to taking that other 10% out last week, but was holding out for a little more of a gain on IOM. I guess I shouldn't be so greedy--my portfolio was up 82% YTD as of Friday--certainly nothing to complain about.

The DOW drop to the 7600 range didn't surprise me. The additional drop today down to the 7300 range did. I'm expecting another drop in late December, but haven't given much thought to the magnitude or interim fluctuations.

I think that the quality stocks will recover quickly from this minor correction. I think that the accumulation we've been seeing with BORL will resume once the blood stops flowing on The Street. I'm really tempted to buy some of the NOV 12.5 calls which have now dropped to 1/16 x 1/8.

I'm discovering one negative side-effect of my Bull Spreads. Because most of the "profit" comes from implied volatility, I have to hang on to the spreads until very close to expiration to realize the maximum returns. I think I'll be okay on both of them, though. As long as IOM closes November option expiration week above 25 and BORL closes January option expiration week above 10, I'll net the maximum returns. They would have to close below 23.5 and 8.5 for me to lose any principal.

- Michael Coley
- i1.net
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