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Non-Tech : ZOLT
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To: aatkinson who wrote (767)7/13/1998 8:50:00 PM
From: Dave Mansfield  Read Replies (1) of 970
 
aat, you really feel the institutions drove this stock to $65? If so, my lack of trust in those guys is vindicated. Long term I'm guardedly bullish this stock, but I've never paid more than $34 for any share I own with an average cost of only $11.61. I've only bought when I thought it was reasonably valued. I do have to admit to being caught up in some of the fervor when I bought those few at $34 however. I still believe it was the Cabot lemmings and other momentum investors that drove this stock to $65. If you check Merrill Lynch's recommendations at that time you will see they had some holds when it got too high.

In regards to my August put strategy, if you feel it's a good one, then you shouldn't think a 20% drop is ahead of Zolt. I agree that a 20% drop is a possibility. That's why I'm wavering right now. With my luck of late they'll probably make some announcement about a new customer or lower priced CF before I make a move and the whole idea of writing $20 puts will go up in smoke.

Dave
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