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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: fourptt who wrote (29413)	10/21/1999 10:15:00 AM
From: IQBAL LATIF	Respond to of 50167

IBM calls... To be honest I have long calls of 110 of IBM, I think I will average them out at 88ish level.For me this is a block sale of IBM, I waited for this but should admit was not able to pick the bottom but in option business what matters the most is that your calls are limited sums and when stock drops 14 $ like today you are not that much hurt, however IBM remains one of the best beaten down company it looks bad technically but I will recommend it at 88ish like INTC at 65ish ofcourse we do see lower levels but the calls like Febs or March's will pay off nicely. Market over-reacts and punishes severely but these are good companies to own for long haul and great one's to trade for medium term.. I like HWP at these levels and VOD which has retreated from 53 high.. but wait for that 1303 break on the up at them moment trade the SPZ on momentum side..