Doc Stone's Bierstube und Trading Room Message Board

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Non-Tech : Doc Stone's Bierstube und Trading Room

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To: RikRichter who wrote (384)	9/8/1998 1:09:00 PM
From: M. Frank Greiffenstein	Read Replies (1) of 638

Sold VIP... I sold VIP at the open at $9.50, also sold my VIP Oct 7.5 calls. Chernomyrdin was turned down a third time, new elections. Spoke with "Natasha", the daughter of an executive at Rostelkom...she is my wife's best friend. Telephone bills are not being paid at all, not even in worthless rubles. The situation will definitely get worse before it gets better. I just don't have the stomach to hold VIP. I bought Dell Jan 40 puts, Gateway Feb 45 puts. Wanted to get Amazon.com Feb 75 puts, but they are priced over $23 !! Man, I guess I know now where all the put demand has been! My rationale is as follows. Tax loss selling season is coming up. People will be selling a lot of stocks to make up for profits, or simply selling stocks to lock in profits. Today's rally is strictly tied to Greenspan's comments last Friday night. Dell is selling at incredible multiples of sales, insiders ahve gotten so many options, eating away of Dell's assets. This muther is oging to crash and burn. Yeah, I know, some famous shorts have gone down in flames on Dell, but "this time it is different." DocStone

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