To: Big Brother who wrote (13675 ) 5/6/1998 6:32:00 PM From: Andrew Vance Read Replies (1) | Respond to of 17305
*AV*--Sorry for the delay in response. Phone lines into the house went down since they were working on the "box" across the street. I had to run down to the local discount broker with my cell phone as I suggested for you yesterday to keep an eye on things. If its any consolation, I have reduced my position to 15 or 20(I think) Contracts with the majority coming towards the close at $10.75 for a good gain once again. Since there were no PUTs offered inbetween 17.5 and 35, I bought some May35 PUTs as the stock was dropping. I am in the black on these but they would have been more profitable had I done it earlier ($5.50). As I saw the drop I changed strategies and took the PUTs at a higher price than I the advice posted. I feel bad bad that I was out of contact to tell you of the change in plans. Now here is a real gutsy move for tomorrow, if you wish to take a flyer with limite funds. Buy Jun15 PUTs at $0.75 for a gambling trade. I would say that you could buy 50 contracts for under $4000 with the potential to see it grow to possibly $10,000 if the stock actually retraces to $13 or lower. There does not seem to be anything holding this stock up and it may continue to collapse further. This is my plan for tomorrow. I also plan to buy some NOV35 CALLs for 5.75 which is much more sensible than paying 5.625 for the Aug35 CALLs. This is just incase the stock turns around momentarily during that timeframe. This whole affair this week has become a defining moment for me and I am beginning to feel like Warren Buffet.<GGG> Like you have paid off your car, I am margin free with cash to burn on the tech sector. Opprotunity knocked this week and I was home to answer the door. The reason for this late post is due to some impulsive shopping I did after leaving the local discount brokerage. I picked up a few hundred dollars worth of goodies for the kids at Sam's Club to celebrate and blow their collective minds like PC games, a bigger monitor, software, neoprene inflatable boat, books, videos, etal. The kids think I went nuts but they deserve it for putting up with me for the past 4 months as I played PC hermit researching stuff and posting on the Internet. Andrew