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

To: Jacob Snyder who wrote (60466)	2/13/2002 4:44:06 PM
From: michael97123	Respond to of 70976

JS< Runup in equip may be too far too fast, but nasdaq at 1850 might have legs. If so, you will get those orders executed. Naz topped at 2099 in december i believe. If naz goes to 2100 again(250 point run from here) amat easy to 60(higher end of a new 50-60 range) in this run. And if naz goes beyond 2099 next target being 2300, we will have Tito's staircase workers feverishly building to 65-70. Irrational yes--possible yes. mike

To: Jacob Snyder who wrote (60466)	2/13/2002 5:17:09 PM
From: Sam Citron	Read Replies (1) \| Respond to of 70976

Limit sell orders placed: At 50 and 55 I assume you have considered (and dismissed) the option of simply selling CCs. (repeat, repeat) <g>?

To: Jacob Snyder who wrote (60466)	2/13/2002 9:11:33 PM
From: Cary Salsberg	Respond to of 70976

I agree with your numbers and logic. Back in Nov 01, I suggested that $55 was a target for selling. I like the covered call approach (JUN $55 @ $5) because it gives me some downside protection and doesn't necessarily require a sale. I expect to execute @ AMAT $50. I might be too complacent. The valuations have been too high for so long that I am not as troubled as I once might have been. If you are willing to buy back at $40, I am willing to sell the CCs at $50 and ride my holdings down to $40. If I get called, I might buy back at breakeven (~$60) and sell CCs 6 months out. Sometimes I get the feeling that my support of the 8 is keeping them at these high valuations. I wonder if the market sees that they deserve a quality premium. I would prefer much lower valuations across the board, but I must adapt to market valuations within limits.