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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Greg Jung who wrote (15125)	11/26/1997 11:57:00 AM
From: Mark	Read Replies (1) \| Respond to of 50167

Greg, re: IBM- Thanks, Greg, for your thoughtful input about IBM and the thanksgiving effect which I find very interesting. As you can see, the runnup continues today as Big Blue moves over 108+. Of course, there has also been a pretty good barrage of "feel good" news coming out too (Gershner stays on, 56K pc/cell modem, shipping first java exploiting netPC, etc). I looked at DEC puts considering the rally may be short lived but the premiums (DEC105 at $4+) seemed high which adds credence to your TG effect. I went ahead and sold DEC110 against my Jan110 long calls leaving me with nearly free jan110 calls. If things continue to look rosy, I'll look to buy them back (DEC) on a dip, perhaps after TG if it brings the dip you suggest. Thanks again & best regards, mark