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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Teflon who wrote (27494)	7/29/1999 10:15:00 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 74651

>> What a nutty Market we have these days don't you think, Frank? As you have posted about yourself, market timing isn't one of my skills either <I failed stochastics in kindergarden>, but a retracement after 2Q earnings announcements has been pretty predictable event in recent years. I wrote August expiry covered calls on some of my high fliers early in the week to hedge a little and to generate some extra cash for bargains. I didn't write cc's on Microsoft, though, as I think it is extremely undervalued at this level; a resolution to the doj suit could make it spike by 20%, and that could happen any day. Frank

To: Teflon who wrote (27494)	7/29/1999 10:47:00 AM
From: Bill Holtzman	Read Replies (1) \| Respond to of 74651

Tef - Glad you got so much mileage out of that one! Just curious, was this out in the Hamptons? What do you see as major threats to the markets? Seems to me that rising wage pressures or another foreign economic blow up are the primary threats. I liked that Greenspan said that US productivity was on a tear due to technological innovation and a new work ethic and that this was unlikely to change anytime soon. I think he hit the nail on the head and that is why the markets are safe long term.