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

To: Marvin Mansky who wrote (17459)	6/30/1999 4:32:00 PM
From: Alok Sinha	Read Replies (3) \| Respond to of 64865

Well, it seemed like everybody was just waiting to jump in after the fed hike. I was surprised that they moved to neutral stance. Over the medium term, the bond market will not like that. Bought back my SUN 70 July calls and sold the same number of Aug 70s for a $3 premium difference. SUN really came back strongly in the last hour. Hopefully that is sustainable due to strong earnings expectations. Over the next few days I think the stock and bond market will move in tandem. At these elevated levels, I think the risks outweigh rewards significantly. The run-up is quite similar to what we have seen at qtr end the last couple of times (the main diff. appears to be a broader participation with small stocks, and financials acting better). The crazy trading in Internets is also indicative of bubble growing bigger again. Also today was qtr end, so some window dressing was in order. Regards Alok