To: Uncle Frank who wrote (50049 ) 11/15/1999 12:39:00 PM From: RoseCampion Read Replies (1) | Respond to
...I feel lost without a target for 12/31/99. Your 305 call sustained me for several months, but it isn't very useful any longer. Would you mind sharing your thoughts based on the new outlook for Q? in the short term - we're in a living example of chaos theory. One little flap of the butterfly's wings and we could instantly be up 50 more points or down 100. (Maybe in the same day.) And there is absolutely no possible way I could predict at any one time if, when, how, and how much... Look at all the Qballs we've got in the air at this instant: the sale of subscriber, the split, short selling, short covering, HDR, ITSU standards decisions, China and WTO, China itself, the Korea investment, general fund window dressing, the FCC/Nextwave thing...we could go on for quite a while. And then add in the general market outside of Q, even just thinking of this week: FOMC meeting, options expiration, bullish NAZ, potential NAZ profit taking, Y2K foolishness, and the start of general year-end portfolio pruning. Given this stock in this environment, it's no wonder implied volatilities on the calls are enormous... conservative at this point.) But will we hit 320 on the way there? I think there's a good shot at it. That's why I'm not selling, and not buying, but just biding my time, accumulating cash, waiting for a good moment - which may never come. I can live with that if I have to.
