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

To: Bill Holtzman who wrote (27631)	7/31/1999 2:08:00 PM
From: t2	Respond to of 74651

Bill. I think i got it right only partly. I sold all my options before earnings and some stock. Sold leaps and sold covered calls the day after earnings(don't remember exactly). Within a week later, realized MSFT was heading down and decided to buy back the calls and unload the remaining shares. I did buy back some around 88 but that was partly due to the way Intel is behaving. I hope the stock stabilizes at these levels. It certainly looks like one of the best bargains on a relative basis. However, the market appears to be still heading down and MSFT might even get cheaper. I am just not confident on the market moves in the near term and am deciding to sit on the sidelines for a while. Even my bond mutual fund purchases leaves me in mostly cash position. I am not even feeling that good about buying bond mutual funds but decided i had to put somewhere other than just money market. Good Luck with your approach. BTW--i had a lucky guess this time around earnings simply because everyone was already expecting great earnings. Maybe now, they could be ready to do something for the stock as July employee stock option issues are not a factor anymore. Who knows.