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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: kahunabear who wrote (3052)	2/27/1998 12:38:00 PM
From: JohnM	Read Replies (2) \| Respond to of 6565

Time to bail out before the short term fall. i've sold out my core position above $20, and used the cash to buy some options. VLSI always gets beaten up more than it deserves. i've lost too much money in this stock by holding firm on bad news. we'll see $16 before we see $25 again. my guess is we get trampled over the next several weeks (even if there is a small up-tick monday with the March money rolling in). the shorts will start piling on and we'll get driven down to break $17, if not lower, even without any further negative surprises on 1Q98. then, come next summer we'll start ramping back up to overvalued heights and top $30 on expectations for the second half of the year. i'm buying march/april puts and october calls.