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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Sunshine who wrote (9317)	1/18/2001 2:17:24 PM
From: SpecialK	Respond to of 10921

Not to take away attention from semi-equips, but Thanks Steve on the caution of writing naked puts. It's been 3-4 months since I had approvals at Etrade to short sale, write naked puts, etc. I've been just been trying to sit on the sidelines until the volatility/ whipsaws seemed to subside. By the way, I have no way near 100K in the account for naked put writing. I think Scott was right on, noticing how semi stocks weren't falling to bad news back in December. This was a showing of a bottom. After interest rate cuts, what is the short-term upside? We rally on bad news, do we continue until we hear good news, then selloff? Notice that ADI warned and is down today, but the chart formation is actually pretty good. Nice reversal, looks like a good entry point at 52.

To: Mr. Sunshine who wrote (9317)	1/18/2001 2:20:56 PM
From: sergio	Respond to of 10921

Sorry to anyone if I missed discussing the risk. Yes risk is a major concern and this put writing strategy is not recommended for just anybody. Also I myself would not do any naked put on an index plain and simple as the risk is too great. What I was alluding to earlier is for the stock I want to accumulate long term like CSCO and I dont mind getting PUT at 22 1/2. Last year I got PUT once on CYMI and just got even as of yesterday at 35. Along the way I sold calls againts it, therefore TDW earned more commish on me. Thanks for reminding me and others about risk. Ian: Yes I was able to upgrade my trading level at TDW to allow naked put, but only for the stocks I would like to be put to me. My only gripe with TDW is slow platform and still pricey commision, but I can't have everything I guess. :) serg