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Technology Stocks : Gateway (GTW)
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To: Skeeter Bug who wrote (6586)8/29/1998 9:57:00 PM
From: yard_man  Read Replies (1) of 8002
 
Hasn't broken down yet, skeeter. I took a quick double after earnings. Then jumped back in on the bounce. Sold second time only to lose a little bit of my profit last week. I don't like to hold options in expiry. If I had known the market was going to break through key support, I would still have them.

The ones that really hurt were the CMB puts. Sold them at cost after they were history for so long. With the split and the recent drop I could have made out pretty good.

Holding all the rest of my puts for a while, through any silly retraces -- market has broken key support. The liklihood of lower lows is very good. Now have:

Jan 80's on UTX
Jan 120's IBM
Jan 75's on EK
Nov 70's on BSX
A number of different strikes in Oct on LU

UTX began dropping from the 90's right after I bought and lately like a rock. Expecting mid-60's even if the market holds up. Booster and rocket explosions portend what is to come for the stock price. All the other Aero cos have been hit hard.

EK will be killed by the currency situation -- competition for its main products from Asia. Only looks good now because it has been able to cut costs, so what. It is not a growth co.

Really hoping for a reflex rally that brings the VIX down, otherwise I may short something ()XRX, IBM, ?) on a good bounce. Get some puts on something on any rebound, if you don't have any. Market is busted.
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