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Strategies & Market Trends : Tech Stock Options

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To: Michael Hillman who wrote (1997)	5/24/1996 3:06:00 PM
From: Pascal A. Mons	of 58727

Michael, On IOMG Glad to see IOMG behaved almost as expected. Comments seen yesterday in the Wall Street Journal said the after split move was fueled by some Bulletin Board excitement (from America on Line). i.e. Professionals didn't understand it. Though they played too the momentum. But following this you should expect a strong downward move and as Computer Trading did set resistence, that mean that they will forbid any return to these levels (?). I did not see the graphics but I think I saw a dip to $41 during only minutes ($10 less $1) from the $50 level of yesterday. It recovered almost to $45 (mid-curse) as usual and Right now the battle is on the very lower band of the buffer at $44, any slip below may trigger a test of the $40 level with this time $40 in sight. To me the only safe play is a Buy of Puts (at the opening)... I didn't understand your strategy on Selling Puts ??? You will lose your shirt may be if you didn't seek assurance. Every indicator tell me the big guns play on IOMG for June options expiration is down. Any comments ?

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