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Non-Tech : Invest / LTD

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To: The Ox who wrote (7350)	2/11/1999 9:11:00 PM
From: Thean	Read Replies (1) of 14427

Mike, assuming GALTF closes below $18 tomorrow and continues to drop like a rock, do you think it is fundamental-related or is it simply the disappointment of no new product announcement and last Q revenue drop? It has a fat put premium and if the drop-like-a-rock scennario materialises and it is just a sentiment shift, I'm prepared to write march puts of either 17 1/2, 15 or below as a very conservative play. VTSS - makes an attempt to pull itself up. I highly doubt we will have a carry through tomorrow but in the unlikely event it does, VTSS would still have to close convinsingly above $46 for me to convince myself about a quick return to the old strength. ALKS - I am getting ready to short this drug delivery company. Its chart pattern and a large block trade (most likely a sell order) this morning is signalling the beginning of a slide that can end up at 20 - 22. It's currently 28 1/2. Tomorrow being Friday and a close below $28 would nail the coffin for its immediate trend IMO. RIG and DO traded at par this morning for a few minutes before splitting in opposite direction. When that happens again, I'm doing a long RIG, short DO spread.

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