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Strategies & Market Trends : Tech Stock Options
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To: Don Pueblo who wrote (29690)11/28/1997 7:33:00 AM
From: Kevin  Read Replies (2) of 58727
 
Let's take a quick roll call to see who's here for a little post Thanksgiviing trading. Anyone?

Never did close my IBM calls on Friday. 2 reasons:
1) the market stayed in my bull trned for the day....even though it was flat and boring all day. I didn't plan on selling until I saw weakness in the market and / or weakness in IBM.
2) IBM hit a new 52 week high (109 7/8). I'm impressed with how IBM keeps chugging forward even through a sideways market.

I'll see how the activity looks today. I expect the entire market to be DEAD, so I probably won't make a move until next week. If IBM breaks $110, I'll consider that a breakout and I'll continue to hold my calls. If instead it declines, and / or the market weakens, I'll take my profits and run. Currently up over 70%.

I'm looking at TXN for a trade. Target $52 1/2 with a poss for $57 over the next couple weeks. Probably look at the Apr calls.

Another trade I'm considering is adding to my Apr 80 CPQ calls. I'm down quite a bit on this position currently, but do not believe that it is a bad trade...just got in too early. My avg cost is a little over 7 1/2 right now (yikes!) with the current ask @ 3 1/2. My target is still in the high 70s over the next couple of months.

I'll be back with my index levels shortly.

Kevin
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