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Non-Tech : Invest / LTD

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To: Broken_Clock who wrote (1564)	8/5/1998 5:28:00 PM
From: Thean	Read Replies (1) of 14427

Papaya, the chart says WFMI is trying to find a bottom. Don't know where that bottom is but it is under tremendous amount of pressure. The way to play this is to buy strangle but the premium is pretty high I bet. I can't place a risk/reward for you and I will avoid. MU has tremendous volume at the close on a very strong uptick. All shorts are in for a bad experience I'm afraid unless we have another selloff tomorrow. But with the US market stabilized today, foreign markets will likely react positively and S&P future should be up tomorrow morning. Therefore, I will be very careful about placing sell stops tomorrow as a sudden surge after open may clear all stops, then it fades again. High volatility is to be expected. The evil tower did close at a technical breakdown position. We should see $36 as a resistence now, if it gets there tomorrow. My shorts include ICOS, INHL and SCTR. Puts are MU, PNU, and CL. Will close out all positions if the trend changes real quick.

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