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Pastimes : Ask Steve -- Ignore unavailable to you. Want to Upgrade?

To: hpeace who wrote (4450)	12/10/1997 9:28:00 PM
From: Adwiz	Read Replies (1) \| Respond to of 4749

What's Your Reading on SIII? Steve: Like you I went through two puts on SIII, but am still long at 13. At one time you were very bullish on their prospects for '98. If you listen to the chatter on the SIII thread, you'd swear that the company will be going bankrupt any day now -- accounting fraud, no new products, shareholder law suit, bad management, etc., etc. As you know, it's selling below book value now and could get even lower. Is there any hope here, or should I just dump it. I can't even claim a tax loss because it's IRA money (about $5K). My breakeven is 10 and I don't mind holding if there's a light at the end of the tunnel. Sorry for the long-winded message! Thanks for your help.

To: hpeace who wrote (4450)	12/10/1997 9:29:00 PM
From: Lane	Read Replies (1) \| Respond to of 4749

Steve, Where do you see cpq falling in the continued down turn tomarrow? They have tested 57-58 several times and seem to hold. If they break through...who knows. Justified or not, there is a great deal of negative sentiment. If market is waiting for Jan. or April earnings to start moving, do you think 80-85 is realistic for cpq by April? Was thinking of the bull put spread, but have not pulled the trigger. If I do it now, will be the april 60 and 80 more than likely. Would like to step into it , but don't want to sell the puts in this market without having the long side in place. Any thoughts would be appreciated. Lane.