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Technology Stocks : Open Text

OTEX 33.67

-1.8%

Nov 14 9:30 AM EST

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To: Michael Burry who wrote (343)	2/6/1997 11:47:00 PM
From: White Shoes	of 1195

Mike I think it is unlikely we'll go below seven and if so it will be like before, barely long enough to have a coffee. Reason, this stock is news driven and bouncing up and down. I don't think this one will 'break the down whatever' and then keep going down. News releases etc. will stop that happening. Some days it 'just drifts down a bit' so if it did that I might pick up a few more. There are a number of issues from the 10-K, some financial, some related to prospects for new ventures, that are worth discussing...maybe in a couple days when I get a chance to catch up on my reading. Just let's not turn this into a circus where some clown comes in spouting about all the cautionary statements in the 10-K (which they all have to do)! I think everyone should be thinking about 'market hedging' nowadays. The market is overvalued. I cannot time when it will go down though. Who can. I do know that some stocks don't trade with the market, and I am in some like that. I also know that you can buy puts of various kinds and short the sure losers like ZITL. People are smart to think about these things BEFORE everyone starts running for the exits. I would say good luck with the IBM hedge but it's neither here nor there I guess.

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