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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: KevinMark who wrote (116255)	11/8/2000 10:22:38 AM
From: Dave Gore	Read Replies (1) \| Respond to of 120523

Kevin, MSFT earnings coming from investments is old news that was ignored before because the Big Boys wanted MSFT to take off last month after earnings. I find it interesting it is being brought up now. Their earnings were skewed up because of that but no one talked about it much. I even mentioned it at the time. Like I said, there was tremendous CALL option buying a day or two before earnings and minutes before earnings. Those who bought MSFT 55 calls just before earnings made 2500% on their money.... in less than 48 hours. Calls were as low as 1/4 x 3/8 and got as high on that expiration Friday (as I believe) 12 per contract. A $1,000 investment would have returned $25K, a $10,000 investment $250,000. Lots of people (perhaps in the know) made lots and lots of money. Of course, this was a very highly leveraged play and a very risky one because the options were expiring in 48 hours after earnings were released. What's sad for me is I bought some calls at 9/16 and sold at 1-3/8 just before earnings. If only I had held overnight. Oh well (LOL!)