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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: chaz who wrote (5291)	8/24/1999 12:27:00 PM
From: Wyätt Gwyön	Respond to of 54805

Chaz, I have followed a simple rule in buying calls on QCOM. I buy close to the money. Back in April when I started following QCOM, the stock was around a split-adjusted 75. Bought options striking at around 75 then. Sold when it went to 100+ and bought options striking at 100. Sold when it went to 120 and bought options striking at 135 in Oct 99. Sold when QCOM went to 150 and bought Jan 2001's striking at 150. As I said before, I will sit on the 150s till expiry unless there is a change in fundamentals that causes me to exit the stock. This is not a very sophisticated strategy, but the strong stock price has made it work. Also, it has been useful for playing "catch-up" <g>.