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Technology Stocks : Veeco Instruments-Who? -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (2229)	7/5/1999 3:27:00 PM
From: Mark Ivan	Respond to of 3069

Jerome, I beleive Zeev said the "Dog-Day douldrums" after the summer rally we are currently in. I'm prety sure he is long VECO at this point. Been following your latest posts on the CYMI board. There are definely some mega-bulls over there. Maybe they're right, but I am not counting on it. Seems that you and I have the same investment strategy. I write A LOT of options and buy a few speculative ones (mainly PUTS, sometimes calls). I deal mostly in VECO and RMBS options as the premuims are VERY nice. I beleive VECO is the safer of the two, but for some reason, the volatility is pretty much the same. Right now, I'm short Aug 30's, Aug 35's, and Aug 40's. I actually got 4 1/2 for Aug 40's just a couple weeks back. I put the orders in and hope they hit. I use a price limit of what I expect the option bid to be when it hits ATM. I sometimes leave a lot of money on the table, but other times I pocket a nice premuim as the stock falls. I make pretty good money doing the CC's, but usually lose a lot of it shorting and buying PUTSs. Hence I do well in my IRA's (where I am not alllowed to short). I am still learning, but have learned a lot since I started trading. I think my next stategy on VECO may be a calender spread. Sell the Jul 40 Puts and buy the Aug 40 Puts. Veco at 40 on July expiry would be a nice return. Can't loose all that much. I need to figure out prices on Tuesday. I may wait till next month. Good luck MArk

To: Jerome who wrote (2229)	7/5/1999 7:19:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 3069

Jerome, I am in right now (both CYMI and VECO), but I think we may have just two weeks or so, if at all of additional strength. The sox has be fantastic, and I think that a lot of money is going to flow from the I-net to the semis, but there is a possibility that the strength in the telecommunication segment will be partially offset with the much more "visible" PC segment. The box makers look weak and so do the DD. Thus I am ready with my finger on the trigger. I have not decided yet if I'll be using writing calls strategies or an outright sale, if any. Once the semi go, they may go for a while. Note, however, that the BTB for the semi equip has peaked two month ago, and if it continues to decline from that peak, a retrenchment may follow. Zeev