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Strategies & Market Trends : Bill Wexler's Profits of DOOM
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To: troy halle who wrote (23)2/21/1998 5:29:00 PM
From: Bill Wexler  Read Replies (1) of 4634
 
I thought about including AVNT! (I've been short - and continue to be short since the stock traded at 34).

Even though I consider AVNT a great short and fully expect it to drop into the low single digits, I am frustrated by the fact that large funds (Fidelity, Amerindo, etc.) continue to support these crooked bastards. It looks like we may have a long, long wait for all the criminal and legal issues to get resolved before they throw in the towel. In the meantime, there seems to be a stalemate at 15 - 16 a share. I'm taking advantage of this by selling puts at 15 and 17 1/2 strikes when the stock dips to 15 - 15 3/8 and buying them back when the stock pops to 15 7/8 - 16. I've already done this on 5 separate occassions.

If the stock is artificially raised again to the low 20's (like during the TMAI merger-scam), then it will go into the index.
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