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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: VFD who wrote (11508)	11/3/2000 2:05:24 PM
From: TigerPaw	Respond to of 17183

I got a bunch of EMC in April 99. I already had some EMC and liked the stock. I was experimenting with naked puts as a way to derive income from margin ability, without using the margin. It all seemed very clever and so I sold 5 puts on EMC for $1 each and they expired in 2 days. How can you lose? Well EMC dropped from about $127 to less than $90 in those 2 days. It was a real shocker for a newby option player. well those shares were put to me at $125 and are still in the account for a basis of $31. (The best part is to pay off the resulting margin I was forced to sell some Dell a few months later just before it entered it's decline). If you can't be smart, it pays to be lucky. TP