GD, There are no put plays that are no-brainers when the market looks at a disastrous quarter from Compaq, the prediction of a worse disaster next quarter, which then takes them into the annual Summer slump in pc sales, and then takes the stock UP in price from its already bloated level. And I would still wait for the report from Dell, which happens in May, before loading up the truck with major positions. However, these are as close to layups as you can get with the pc market falling apart:
Micron Tech 25s, 2-3 months out. Things ain't getting better here and the bulls just don't get it.
Compaq 25s, 2-3 months out. Let's see, they earn 1 cent for six months, annualized, that comes out to 2 cents. I can see where they deserve a multiple over a thousand. -g- This co. is in deep kimshee.
The Sox.
The Morgan Stanley High Tech Index.
The Airline Index.
Leaps on just about anything in banking and brokerage. This move up has to be short term. It is not like the idiots who run these firms have gotten smart overnight. They just have huge credit expansion as the wind in their sails. Next disaster will be a doozy.
Warner-Lambert puts, preferably Leaps. This has always been a crappy drug co. A couple of good new products has made the market forget that. But, with dopers, it is always, what have you done for me lately. And I will bet that the Listerine folks don't have the dominoes in place to keep kicking out good products. I am especially willing to make that bet at 56 times eps. I remember buying this turkey as 7 times and waiting forever. -g-
MB
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