Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

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To: Bill Wexler who wrote (1074)	5/25/1999 5:01:00 PM
From: Bill Wexler	Read Replies (1) of 10293

Wexler mulls over the current market correction. I'm looking at my puts (mentioned in my post on 5/14), and thinking about selling 'em. Not surprisingly, we are in the midst of a nasty correction and I'm very glad that I sold some stock and bought those puts. Now it's time to re-asses the situation. I'm going to start closing some of my long put positions and begin selling (short) naked puts at the 70 strike for Costco (COST) and 100 strike for Cisco (CSCO). If I feel particulalry bullish, I may also buy 1 Cisco call for every 2 puts I short. I am also thinking about buying some Yahoo. If there is a selling climax and the put volume rises dramatically, I will be buying lots of stock. No matter what the market direction, I still recommend increasing short positions prudently in all my favorite small cap frauds.

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