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Technology Stocks : General Magic
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To: HumbleDazy who wrote (3078)7/31/1998 2:14:00 PM
From: Mark Oliver  Read Replies (1) of 10081
 
Buy on Rumor and Sell on News. It's the same old story. Hard to be long and sit through daily price changes. Do you have the nerve to hold this stock? I find it hard, especially watching the daily show as I do. I wonder if I ever could have held the really great stocks and not sold. They've all had their dramas. Could you hold Dell today?

Sure it's hard to say GM is Dell, but many of us believe this company offers a great product with unbelievable potential. Only time will tell. It's what the price will be in 2 years that really matters. Monday is just "unpredictable" as Ray has finally admitted.

Anyway, in the near term GM has very low chance to be above 10 when Aug options expire. The open interest is too high for Aug 10 calls, 2396 contracts. The 12 1/2 calls are also very high, 3343 contracts. On the bright side, Aug 10 puts have a volume of 1293. These puts will give cause for some buying and will set a target of closing at $10 on August 21st.

Next month will be another story. There aren't any significant options positions for September. I think the potential for news is going to keep large options positions from forming. The quality of press will determine what happens from here. The ad campaign for Portico is scheduled to be conservative while they ramp the service. We should see some editorial though. Some good reviews will be very helpful.

People will now go into a wait and see mode. Watch for signs of acceptance and system strengths. I can see any reason for this stock to go screaming off at this stage without some new agreements.

Regards,

Mark
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