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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (97)	1/12/2000 3:09:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Steve, since INTC went through its high, I think it has more to go. Under normal circumstances, I would have a target of about $105 or so before writing out of the money calls out protective, however, we are getting a long bond getting close to 7% and that just is not going to be conducive to very strong rallies, IMHO, despite the huge amount of liquidity sloshing around. I do not have any INTC right now, but If I had, I would write the April 100 calls against 25% of the position, and if it gets to $105, then lay out covered calls for the rest at the $110 level. As for ANCR, I think that it is still selling at a premium to what BRCD is selling, so I'll wait and see if the $38 area is indeed good support. My guts feeling is it is not and thus further deterioration to the high $20 should not be impossible. After all, the next quarter revenues are going to be around $4 MM for a company with a current capitalization of more than a billion, it is a lot of hot air and hopes. Zeev