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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.94+1.1%Nov 28 9:30 AM EST

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To: Bill Fletcher who wrote (14782)6/26/1998 11:30:00 AM
From: Thomas Scharf  Read Replies (1) of 77400
 
A cautionary note:

If the 12 month target is $105 and we are currently playing tag with $90, we are in dangerous territory. As a long time CSCO investor I have been through several gut-wrenching price corrections when a tiny piece of bad news came out when the price was too far ahead of itself. Lately I have taken to buying short term in-the-money PUTs a few weeks before earnings come out. This provides cheap insurance against another sudden 40-50% drop. I give up about 1% of value but gain lots of piece of mind.
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