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Technology Stocks : PSFT - 1997 Outlook [closed thread] -- Ignore unavailable to you. Want to Upgrade?

To: Marq Spencer who wrote (687)	1/7/1998 1:14:00 PM
From: Melissa McAuliffe	Read Replies (2) \| Respond to of 940

Brian, I think you have to be prepared for the volatiity of this stock. I have been writing covered calls off and on and have found that it is best to watch this stock for a while and get used to it. At least that's what works for me. Don't ever write the calls until the stock has moved up to a price where you feel comfortable about not getting called. I have had a few close calls (no pun intended) but haven't lost my stock yet. I don't write these for downside protection but rather for income. I don't think you will be disappointed in your investment so don't let it bother you if the stock goes down a little more. I would not be surprised to see this stock over 40 around earnings time. I have also been known (on occasion) to buy calls but I never buy short term on this stock (or any stock for that matter) Usually at least three months out and in the money. Granted, a higher premium but safety is high on my list. I am waiting to see what the stock does if it gets to 33 and if it starts to move back up, I am considering either buying some more stock or buying some April 35 calls..or maybe both. I guess CNBC was wrong about today's price movement. But I am not surprised because my TA was not looking good short term. But the good news is that if they had such a positive meeting (I don't know what meeting this was) I expect we will see positive earnings and positive projections. I figure that to get a mention on CNBC this am before the market opened, the response to whatever they said must have been excellent because they were the only company mentioned. Based on what I just wrote, I may even break my own rule and buy february calls. <<Hope this doesn't get this thread up in arms.>> Actually the people on this thread are very tolerant and entertain discussions about options, TA, short selling and even doji's. Speaking of doji's-Hank--are you still short? You never did share what your basis was for shorting. But this is a good time to cover, IMHO. Melissa