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Technology Stocks : Lucent Technologies (LU)

LU 2.550

+2.4%

Dec 1 3:59 PM EST

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To: Rob L. who wrote (3114)	7/20/1998 1:52:00 PM
From: J. P.	Read Replies (2) of 21876

<I fully expect to a buy on the rumor and sell on the fact scenario with respect to earnings.> I disagree. Last spring Lucent continued to runup on their upside earnings surprise. If you've been following closely, Lucent has been trading on relatively weak volume (3.8M/day or so). Friday we saw 4.8M shares trade hands, now today we have a volume as well as price blowout. I think this rally could be sustained for a while, and if LU should announce a split so much the better for a sustained rally. Also, check the options tables: 206.7.107.6 Someone bought over 6000 contracts of the August 100 for a premium of 6 dollars a contract. So the breakeven is 106 and change. Sure it's speculative, but I'd have to guess north of 110. If I had the cash to buy 6000 contracts at 600 bucks each, I'd want to be pretty darn sure of what was going on!

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