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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (11715)	4/13/1998 7:01:00 AM
From: appro	Read Replies (1) \| Respond to of 12298

Stranger things have happened...

To: Robert T. Quasius who wrote (11715)	4/13/1998 10:37:00 AM
From: 777 Captain	Respond to of 12298

Technically, the stock is due for a bounce again, and if my timing is right it will probably be late this week, or early next week (if at all.) Anyway, I'm looking to sell either some covered calls, or some puts, or both on the position I presently hold. This market is nuts, e.g., good news is bad news, etc., there is a very good chance the stock could bounce to to between 5.00/share - 15.00/share very quickly. If it moves upward real fast, some of the shorts MAY cover, which will add to the upward move. Fundamentally, this stock is in bad shape, the market just hasn't figured it out yet. Since I have to trade in a crazy market, I'm long APM. Every argument against being long has merit, but not under present market conditions. Greed always wins (at least in the short term.) Regards.