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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (5824)	3/31/2000 7:41:00 PM
From: RocketMan	Read Replies (1) \| Respond to of 8096

Take profits, trigger a selloff, and pick up techs at nice lows... You got it. The puzzling selloff last Friday, which I wrongly attributed to a possible MSFT play, was actually Dear Abby tipping off her better clients that she was about to bring the Naz down, much to AG's pleasure. I doubt if she used those words, but that was the play. Now, why would she take 5% off her plate to suffer a 10-20% reduction in her remaining 95% aggressive growth portfolio? Because (1) she doesn't own any of her "model" portfolio, it is just a window display, and (2) she has a megadeal with Chinese oil, and needed her "best" customers to have cash to throw at the IPO. Now, back in the real world of small investors, today was a great day for those with strong stomachs. I made out great on the EMC, MSFT, CSCO, JDSU, and GMST calls I picked up at bargain levels. Didn't touch NTAP cause I don't understand the technology. I wouldn't worry about your GMST, but here is my current strategy, buy slightly OTM calls 3+ months out on deep dips, like this week, sell them when GMST goes up 10+ points, and buy common. Sell the common on further deep dips and buy calls. On another note, I am staying away from cree unless and until it hits its 200dma which is 90. Then I am buying the heck out of it.