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Technology Stocks : America On-Line: will it survive ...?
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To: Joel Sternberg who wrote (1195)1/25/1997 12:36:00 AM
From: James F. Hopkins   of 13594
 
HI Joel: if you got them that cheap, you can buy her on her
early morning dips, ( she gaps down early then retraces )
sell them when she retraces..do a short sell in reverse and
use your puts as cover, she has enough play to skim .75 to
a 1..every day..just stay covered in case she goes aginst you,
you can make your put money back in a week and still have your
puts ( if all goes well )..dont get geedy grab .50 cent if
she looks weak on the retrace..and get in close on that gap down or
pass, limet order only of course..she gaped down 35.25 this morn
doubt you could have got in there MM spread..but 36 to 36.5
would have been easy..and if you got a discount broker..thats
not bad..for 2hrs..I wounldn't try it twice in the same day,
as its to risky, "however it would have worked twice today before
1:30 EST.." and easy too..don't hold her over night, if she dips
to low and don't retrace you might be tempted to exersize your
puts..before you want to..I put an odwer in for some more..
out in April..havent checked to see if I got them yet..if I did
I will be riding her come monday..that way if I get caught, and
have to exersize the ones I got I'll still have a short position working. they is some others doing this..( shorting in reverse )
u know if too many get in on it ; it could force the price back up
some.
JIm
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