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Technology Stocks : CustomTracks Corporation (CUST) -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (1255)	7/2/1999 12:14:00 AM
From: Tom Hua	Read Replies (4) \| Respond to of 2514

Jenna, thank you. OT-- I picked up some Jul 40 and 45 puts on MMCN today. Earnings out 1 day before option expiration. I shorted last week at 39 3/8, didn't like the action so covered for 1/8 loss. Shorted yesterday at 45, still didn't like what I saw, covered at 44 1/4 this morning. Reshorted a smaller position at 49 1/4, and bought puts. Strong upward momentum on no news. Looks overbought to me. Company derives more than half of revenue from one customer (CSCO). No new significant wins that I've heard. PE approaching triple digits, way outside the norm for this company. It's probably not a very good short, but could be a decent hedge against other long positions. Regards, Tom