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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (56708)	11/30/2001 4:00:23 PM
From: advocatedevil	Read Replies (1) \| Respond to of 70976

You're doing well with your play Jan. I'm not going to risk positive war news over the weekend. I can always jump back in at any time. AdvocateDevil

To: Jan Crawley who wrote (56708)	11/30/2001 4:22:09 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 70976

ST trading: Welcome to the AMAT Casino. I bought back my covered calls (ANQAH), at the close, for $3.40. Sold them a few days ago at $3.70, so I made a small (pro forma) profit. My GAAP results (which include commissions, taxes, depreciation for the PC I trade on, pro-rated fees for cable modem access, beer & chips, etc.) show a loss. I did not like the way AMAT seems to be finding support in the 40 area. Yes, we closed below there, but nevertheless, AMAT seems to be going back into the 40-50 range. The trend is up, the chart is telling me so, and I'm not going to argue with it. I need a hedge for my long positions in AMAT, EMC, NTAP, QCOM. All of them are looking very strong, and I don't want to sell them. I'm thinking, rather than sell covered calls in them, I may buy put LEAPS in QQQ. Or maybe buy put LEAPs in some other tech sectors where the charts look like a resistance line has been reached. I'm thinking, maybe JDSU or CSCO or JNPR. CSCO looks like it's stalling at 20, and JNPR at 25-27.