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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Farmer who wrote (55896)	10/11/2001 3:27:28 PM
From: Jacob Snyder	Respond to of 77400

Sold all my CSCO LEAPs today, with the stock bumping up against 16, for a nice overall ST profit. I had bought them, on the way down, with the stock at 16 and 13. Didn't reach 10, my next buy point. This is the third time I have gone long the stock (or LEAPs) this year, and I've managed to get out with small-to-medium profits each time. 16 looks like resistance to me. Maybe we get to 19, but I doubt it. I'll buy back, in increments, at 12, 10, and 8. And then wait for the next rally to 16. On 9/10, I was 40% cash. By 10/5, I was 40% margin. (too too much) As of now, with all the limit sell prices reached today, I am down to 3% margin. I've now sold my higher-cost stocks and LEAPs in my buy-list of equities, and am now left holding stock, and 800 contracts of 2004 calls in my favorite quality techs, bought at prices right at (or fractionally above) their yearly (multi-year, actually) lows. It was a huge gamble, and I won big.