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Technology Stocks : Zenith - One and Only -- Ignore unavailable to you. Want to Upgrade?

To: Scott Lerner who wrote (3662)	12/16/1997 1:28:00 PM
From: Robert Utne	Read Replies (1) \| Respond to of 6570

Everyone in broadcasting, consumer electronics and the various TV delivery systems is looking for someone to step up and lead the HDTV show. HDTV leaders to date include Gary Shapiro of CEMA, Ted Turner of Time Warner and Hindery of CBS. Zenith has had a tremendous opportunity over the past two years to demonstrate leadership in HDTV. Time is running out. Zenith needs a new ceo, right now, and a tighlty-focused strategy to bring HDTV to the American public at affordable prices and in sufficient quantities. Forget the gizmos (including scheduled analog "advances")and hit the mass market. Zenith can sell millions of basic, 64" wide-screen, HDTV projection models at about $2,500 each (grabbing 75% of the market during the next two years) and be firmly positioned on the top of the HDTV hill for the decade ahead. KISS (keep it simple stupid)

To: Scott Lerner who wrote (3662)	12/16/1997 4:43:00 PM
From: Scott Lerner	Read Replies (2) \| Respond to of 6570

3:08pm Dow News Wire Confirms Bull Option Hedge on ZE. Option trader buys Feb 7 1/2 calls and sells ZE short to hedge. This is a Delta Neutral strategy. The trader obviously is long the calls and sells maybe 25-30% short as insurance. In this case, the trader bought about 2000 contracts (this is the equivalent of 200,000 shares), he simultaneously sells ZE short. The amount he shorts is based on the options Delta (the volatility rating). Based on the Delta, maybe he shorted 30% of the long side or about 60,000 shares. This is a bull hedge. He is hoping for really big stuff by February, but he has hedged (insured) his long options by shorting. I see this as a big positive on two fronts: 1) Trader likes ZE enough to put this hedge on 2) Trader may cover short on the way up, fueling the ride. Gee, I'm getting kind of good at this. BTW, We've added at least another 25,000 shares to our position. Let's hope for another good one tomorrow. Scott

To: Scott Lerner who wrote (3662)	12/16/1997 9:50:00 PM
From: Dennis W	Read Replies (1) \| Respond to of 6570

Although I haven't heard much, if anything, about it, I imagine Zenith is quietly negotiating with other CE companies regarding the licensing of its VSB technology. I would imagine that announcements of some of these licensing agreements would be significant events that would capture the attention of analysts and investors alike and bring home the fact that Zenith will actually be a recipient of licensing fees. It will be interesting to see what happens when analysts begin to multiply licensing fees times projected numbers of TV's and STB's using Zenith's VSB technolgy. Scott, it's encouraging, and at the same time, not surprising that an analyst would not be aware that Zenith, good old Zenith, will be receiving licencing fees. At his final press conference of the year today, President Clinton stated that the troubled Asian economies may need additional help and that funds already allocated by the International Monetary Fund may not be enough. Bob, I believe you made some comments about this subject recently.