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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Marvin Mansky who wrote (17285)	6/22/1999 5:09:00 PM
From: Brian Malloy	Read Replies (1) \| Respond to of 64865

Yep, I'm just biding my time looking for the right options entry point.

To: Marvin Mansky who wrote (17285)	6/23/1999 12:08:00 AM
From: Alok Sinha	Read Replies (2) \| Respond to of 64865

Marvin, If (and it is very big IF), SUN has a run-up to earnings to low 70s, it will likely come down hard (irrespective of the numbers). That is what has happened traditionally. Remember in the short run market sentiment drives stock prices, and today's quick drop for techies just goes to show that the direction is not always up. As long as the 30 year bond stays above 5.5%, the real interest rate in the economy are too high to sustain these lofty valuations. I have a very large position in SUNW, but I have no illusions that we will see the 50s again (that's the time to go long or buy calls). I sold calls and bought puts yesterday as the market was going crazy. The options will provide a hedge aganist volatility, and that is the only thing that is certain about this market. Alok