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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Miller who wrote (7473)	2/10/1998 7:23:00 PM
From: Pancho Villa	Read Replies (1) \| Respond to of 13594

>>..so Pancho, what options would you be raiding at this point ?<< Sorry I do not trade options. I hold a large short position (in terms of the % of the total value of my portfolio) I would consider partially covering my position (for example the position I took at 110+ I may cover at under 100). The best strategy may be just waiting with the whole position in hand as IMO there is a high probability you will see a 30% or larger correction in the next 12 months. But given this short is roughly 30% of my net portfolio value, risk reduction would be appropriate IMO, drop under 100 is very probable within next two months. Haven't seen a stock with such weak fundamentals and such a tremendous run for which this has not happened, particularly in this type of a market. Pancho