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Technology Stocks : BORL: Time to BUY! -- Ignore unavailable to you. Want to Upgrade?

To: Jack Gibson who wrote (7049)	10/31/1997 10:32:00 PM
From: i-node	Respond to of 10836

Jack, I have nowhere near your committment to Borland, but it seems to me you don't have a decision on the Nov calls; [I haven't looked but] you can't get anything for them now, so you may as well ride them out. I have the same problem you do on the Jan '98 10s (actually about 10% of your problem <g>), and I intend to bail on them if they get back to 1 1/2, which will require a stock price of 11 or better within the next month. I had put in an order to sell at 2 before the crash, but they only got to 1 7/8 or something. Anyway, while the price was down, I picked up more Jan '99 10s. So now, I've got more in Borland than I want to have (really interested in AMSC right now, so I'm wanting to get a little money out of Borland to put in it). My concern with the Jan 98's is they're going to expire before earnings are released. I might hang on if that were not the case. OTOH, if I had plenty of money I'd still be buying Borland -- but the longer term calls are most attractive I think. After these last earnings, I'm not seeing the kind of revenue growth I thought we'd see, and while the "recovery" seems to be going well, it evidently will be much slower than I'd hoped a year ago, when I first [at least, first this time] started buying Borland. David

To: Jack Gibson who wrote (7049)	11/1/1997 6:58:00 AM
From: James L. Fleckenstein	Read Replies (2) \| Respond to of 10836

Jack, David Ray's opinion mirrors mine almost exactly. Only difference is I am hoping for Santa's Christmas effect to add modestly to Borlands' price so that the 98 January 10s should be redeemable for close to 2 by the expiration. Obviously there is no time value by then so it'll be close. February 10s should be great as the next earnings will come out toward the end of January. January 99s should be great as well. Good luck!

To: Jack Gibson who wrote (7049)	11/1/1997 4:58:00 PM
From: Paul Corbett	Respond to of 10836

Definitely hold the 99 calls. I don't think you have much hope with the Nov(you can either cash them at a loss or hold until they expire- it is up to you- you have about 10 trading days left-) You should be able to get out of the 98 calls. The BORL price should spike above 12 (it already has had an intraday of 11 3/4)between now and then. Sell on a spike.

To: Jack Gibson who wrote (7049)	11/2/1997 6:00:00 PM
From: Ghassan I. Ghandour	Read Replies (2) \| Respond to of 10836

Jack - I would be tempted to sell the November calls ASAP. The January and beyond should be alright for now. I am saying this because I tend to feel nervous about option that are too close (whithin a month) to expiration unless they are well in the money. Most market manipulations are option related IMO, that is why the put to call ratio as discovered by Dr. Zweig used to be a good market indicator until options started to be used for hedging purpose. I tis also an experimentally proven fact that over 80% of option buyers lose. They do loose not because they guessed wrong at the direction of the stock or the market but especially because they fail to take profit at the right time (human greed -- I guess). Ghassan.