Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Eric Klein who wrote (1363)	1/23/1998 4:37:00 PM
From: Bill Wexler	Read Replies (1) of 18691

Here's a suggestion for an interesting trade: Lycos (LCOS) is now trading near the top of its 52 week range. it is considered one of the two "dogs" of the interent search engines (the other being Infoseek). There has been a large amount of insider selling lately, and I seriously doubt that the stock will "Yahoo" from these levels (in other words, skyrocket to a $3 billion market cap). Today I shorted 500 shares at 38 7/8 and sold 5 of the Feb. 35 puts (QWLNG) for 1 7/8. What really clicnched this for me was the hefty put premium (it is still $4 out of the money and Lycos is nowhere near as volatile as Yahoo.) If the stock hangs between 38 and 40 next week I will gradually increase both postiions.

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