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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.93

+1.1%

Nov 28 12:59 PM EST

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To: MulhollandDrive who wrote (12013)	2/2/1998 2:15:00 PM
From: Thomas Scharf	Read Replies (2) of 77400

Betty ann, I agree about trading positions going into earnings being very risky. I don't consider my move a "trading position", rather I see it as buying "insurance" to protect my gains. CSCO has grown to be a very significant portion of my portfolio. I don't want to sell any of it because of the very low cost basis and because I consider it a very important core holding for the next 3-5 years. If the price continues up after earnings, I will write off my puts without another thought. If it goes down, I'll make a tidy short term profit on the puts to cushion the blow. Thomas

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