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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Sundar Rajan who wrote (28451)	11/14/1997 12:36:00 PM
From: giddy guru	Respond to of 58727

//gg// Sunder, I know it is very painful to look at the losses. The market was vicious and many got the hit (except the shorts). If you haven't, visit CYMI thread. Look at some of the tech heavy funds. Dreyfus Agg Growth 11.3% until Oct and now -8% Fid Advisor Tech Up 41% until Oct and now 9% ...... The carnage with the short term option players and hedge funds is even more severe. Hope this tech market will turn around at some point and not a dead cat bounce. Good Luck. /gg/

To: Sundar Rajan who wrote (28451)	11/14/1997 12:52:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 58727

Sundar Sorry to hear that :{...but I am very sure there are simular stories of the same situation... I feel there are too many risks in the market today RE: outside influences, that could impact the stocks we love to own.... It's tough enough to buy and sell stocks on their own merits...But when you have to contend with other problems, then it becomes necessary to preserve capital and stand aside, till a clear picture emerges...IMO.... In fact I think all of us have to reevaluate our current portfolios BEFORE the end of the year, and maybe visit with your favorite Accountant for advice on each individual situation...It wouldn't hurt... My feeling here is that BEFORE Jan, we will see trouble ahead... Good Luck to you my friend...stay nimble & be careful, Jerry

To: Sundar Rajan who wrote (28451)	11/14/1997 1:08:00 PM
From: Hans	Read Replies (4) \| Respond to of 58727

Sundar, May I add my tales of woe? I was way up on Aug 6th. I saw it coming, and did nothing. I bought more calls, but was smart enough to switch from 1 month out to a Jan exp date. Well, I outsmarted myself. Then I dropped it all on INTC Nov 80s, which are almost worthless. Sold all my stocks (COMS, ASND, etc) which was a good move, as they declined. Took the proceeds and put them into Nov calls, which are not looking great. Well, here is the plan: 1) dont do anything real dumb 2) go on vacation (mexico) till spring 3) return, get a job 4) buy cheap tech stocks slowly 5) dont buy calls until the next technical breakout 6) dont pay more than 1 for a call (reduces loss) 7) keep option portion of portfolio below 80%, or better yet 8%. 8) short y2k stocks, and high fliers. be prepared to sell and hold. 9) play some index options, especially as a hedge I'm amazed that I can hand out well reasoned advice, and then ignore it when I make my own trades. The bad news: Net worth mostly evaporated The good: EZ money to be made consulting, and net worth was low The ugly: recent market better luck next time (really) to all