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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (69424)	10/21/1999 9:02:00 PM
From: Steve Lee	Read Replies (1) \| Respond to of 97611

I am expecting a substantial decline in CPQ stock price within the next 3 weeks. I have elaborated on some of my reasoning. I am not so arrogant or foolish as to bet on it without covering my downside or doing my homework. I am genuinely interested in hearing from anybody that thinks CPQ has a good future. I have already stated that I have covered my ass by purchasing calls. If I wasn't interested in your opinion, I wouldn't have asked, and I wouldn't have bought calls. I only put in the caveat about the hoping bit cos if that's all you are holding for, then I really am not interested, It's a good way to lose money. I know cos I have done it. OK, so I made up a rule on how you answer the question, but it was my question so I don't feel too guilty about making it specific to real reasons rather than personal emotions. To answer Jimbo's question on why I bought calls: Sometimes a stock with poor fundamentals can go up ! I think the loss on the calls will be more than offset by the gain on the puts. I stand to make a nice overall gain if the stock declines to 15 or so before expiry. If I am wrong, I will close the position well before expiry and retain the bulk of the original investment. You said: >>>What is your rationale for holding rather than protecting yourself from further loss (HOPING to get your money back doesn't count)? Didn't know that were playing a game here with you making the rules. You can slide back into the woodwork now. El