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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: jef saunders who wrote (15874)	4/9/1998 12:29:00 PM
From: Lazlo Pierce	Read Replies (2) \| Respond to of 94695

Jeff, The put play on LU is based on valuation, which in today's market might not be the best idea. LU has run from 80 to 150 (pre split) in last few months, and sports a very high P/E. VERY high. But..... Dave

To: jef saunders who wrote (15874)	4/9/1998 1:15:00 PM
From: FJV	Respond to of 94695

Jef, LU is making billions and intermediate/long term it's a core holding. To reiterate though, on a short term TA and FA basis, it's gone up too high too fast. Monday was a key short term reversal day (up 2 pts and then down 4). Today with the Dow up 117 at this time, LU has managed only a 5/8 gain with very little carry over momentum after yesterday's rebound. MY ONLY position in LU currently is 20 APR 70 puts. I will close out the position after the Plonkian downdraft next week. I hope this answers your question. Franco