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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (22969)	8/19/1999 7:13:00 PM
From: Iris Shih	Read Replies (1) \| Respond to of 69914

Ynot, I bought some lu around 63 and wrote Sept. 60 calls for 6+ dollars in my investment account. Now I think it might go down to 50~55. Will add some if it gets there. I'll keep an eye on these three, since one is your favorite short. Van Wagoner Fund's Van Wagoner Says Stk Prices Too High NEW YORK -- Garrett Van Wagoner runs four of the 10 best-performing mutual funds in the country, but the portfolio manager has assumed a cautious view of U.S. stocks after selling some of his Internet and semiconductor holdings before their spring and summer declines. "The valuations just got unreasonable," Wagoner said of his decision to get out of those stocks, investments that enabled two of his funds to gain 102% and 122%, respectively. "We bought a little bit of energy stocks in June and July," he said, "but mostly we've just parked our money in cash reserves waiting for a better buying opportunity." His cash allocations range from 10% to 20% of assets depending on the fund, he said. Van Wagoner touted several potential investments that he calls "great companies, bad stocks. These are companies that fundamentally we've just fallen in love with - the business models, the management, the potential market opportunities are just enormous." At the same time, however, he considers their stock prices overvalued. "We still have small positions in all of them, but we would love to add to them in any correction." The firms include Ariba Inc. (ARBA), which makes software to automate e-commerce transactions; Copper Mountain Networks Inc. (CMTN), a developer of digital-subscriber line products; and Phone.com Inc. (PHCM), a maker of operating systems for hand-held devices. Gotta go now. Iris