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

To: johnd who wrote (27986)	8/6/1999 11:53:00 AM
From: larry	Read Replies (2) \| Respond to of 74651

Johnd, I don't think that the Fed will raise until Aug. 24th. The market should be safe until then. Write MSFT Aug. 85 puts is not a bad idea. I will be very interested to see how the market reacts to a rate hike + a tight bias, or another string of strong economic report in 4 weeks. I am not a bear, but will be amused to see how the perennial bulls fight the bonds and the Fed. I was told never to fight the Fed, and with 2 more rate hikes on the corner and the looming Y2k fuss, it will be stupid of me to put too much cash into long term holdings. Nuts will be making a "W" within the next 6 weeks. I am betting that yesterday's low will be painfully penetrated. good luck, larry! BTW, sold MSFT at 86 1/4 and bought back one point lower. Still hold CSCO for the stupid earning rally toward 64-65 and then pick up a core holding at 55.