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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Jane4IceCream who wrote (65661)	10/13/1999 7:31:00 PM
From: Bryan	Read Replies (1) \| Respond to of 90042

Jnae, I have been long OCT CS PUTS now for 1 month and they will expire worthless unless a miracle happens in the next couple days. Not to worry though, because the cost basis is almost zero, so it's a real low risk play. Actually it's my own fault for not closing out the whole position on the dip down to $15.25, but I was looking for a full retracement to possibly $10, and it does not look like that will happen. What I do see however is constant bidding for CS shrs and large amounts dealt at the BID/ASK. It's obvious the big boys are playing this one as well, but everyone is jockeying for position, and with the recent weakness in the techs and the broader market, it's no surprise to see CS off of its highs. In a perfect world I would have had the opportunity to close out the PUT position and buy CS outright with the proceeds for a 4-6 month hold. I personally don't think CS will be bought out this year, but I think Tim and others are correct (that CS will go some time in the future). For anybody that bought CS strictly as a takeover play, I will reiterate what Tim Luke has said a bunch of times (to look beyond the day-to-day price fluctuations and to position yourself in such a way as to be able to ride out the storm). Good luck...and what's up with your recent dislexia, Jnae? bk