Draft of letter to Louis Rukeyser. Message Board

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Technology Stocks : Draft of letter to Louis Rukeyser.

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To: w0z who wrote (31)	12/7/1995 9:22:00 AM
From: Joan Osland Graffius	of 37

Bill I heard the same thing "seasonal". There are a cupple of ways to invest here. The people who have held companies like Intel over the long haul have done better than those that try to time the market. Microsoft is another one of these type of investment companies. I think a good strategy is to hold these stocks through the sell off's is better than trading; and make money selling covered calls when the stock is in a trading range, consolidation period (selling covered calls is a very consertive method of investing), of course never selling the underline stocks by buying a call when someone wants to close the transation with a stock purchase. Market timers generally end up loosing money. These investment type companies had a run of over 100% and giving back 30% is not a bad investment and then making 10% on covered calls is ok until they start going up again. With this strategy you will never miss the moves in the stocks. I don't put netscape in this catagory yet. This has been purely a momentum play. Something to think about. Joan Graffius

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