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Politics : Idea Of The Day
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To: J. P. who wrote (23006)1/27/1999 11:50:00 PM
From: IQBAL LATIF  Read Replies (5) of 50167
 
I am heavily long at AMZN 92 ish all calls 110.. Yahoo 290 300 and 320 when it hit 260 ish.. BRCM and CMGI- My 'Zain' who is 15 was watching the screen when they hit the lows I was sititng and whiling with my friends taking my high tea, unfortunatley a colonial habit still with me like cricket, he thought that it looks a buy at this level.. He got in these stocks he made the long call, he has the credit and he has made huge killing it was nothing but application of simple KISS rule.

We did it alright, the only addition I did last night was to sell DOT calls and locked my proft at 600 Febs although my internets calls are long for March but I thought better to get the money off the table- so I have a huge profit on calls so far and have taken in 6 figures in premiums from selling a covered DOT calls and now can't care less where these nuts may go-

Ideally I want them to rally until Feb to 590 area so that my calls expire worthless and I sell these DOTs again for March, the difference I will pocket.. I was happy that my young kids are now swimming with the sharks on their own.. as for returns this is just one trade..nets are nuts undoubtedly but I will not tell Zain about it he is long on BRCM CMGI YHOO AMZN and why Zain is so hot because he sees and reads OJ every day and liked CMGI.. It was OJ who made us here all nuts..ggg
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