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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (33500)	6/29/1999 6:40:00 PM
From: Jake0302	Read Replies (1) \| Respond to of 152472

Hi Frank, Let's see, I have QCOM earnings on 7/21. 5 days after July options expiry. I may roll my qcom july calls into augusts depending on the action, but qcom is way overextended (270 presplit?)... so I dunno. Next few weeks should be good. Tomorrow will be positive, I think. I am in a whole raft of options for this July earnings run: AOL, NOK, QCOM, MSFT, IBM, EGRP, TBFC, QWST, WCOM, and SUNW. The AOLs, NOKs, and SUNWs are in the money; got into the first two on a nice entry a few weeks ago. The EGRPs and TBFCs are underwater, purhcased way too early almost 3 weeks ago, but at least I got July's... maybe the ebrokers will go on another earnings run. I got into the MSFTs, SUNWs, IBMs, WCOMs too early last week when the mkt was up, and those calls are now underwater, but rising back through their strikes nicely; in a few days, my entry points will look brilliant. I got my QCOMs on strength last week too, and am almost above my purchase price on them as well. Again, next few weeks ought to be good for QCOM. Usually, I would never play like this (too many option positions), but I am betting on a broad mkt rally going into July. I am planning on taking 50% of the calls off the table when the positions pass 100% profits, and letting the rest run into expirations week, which I think should see continued momentum. This will require big upside moves, but that's what I think this market is setting up for. Towards the end of July/ beginning of August, I am going to start to look for good entry points into OEX puts. Depending on performance, I may take the gravy from any of these option positions and roll them into August calls on dips to catch the last part of the earnings run (eg, 7/21 earnings for QCOM... 5 days after July expiry). Anyway, that is my plan, and I am sticking too it. If Greenspan fucks us, I may just have to work for a living. Perish the thought. Jake