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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: hal jordan who wrote (4884)5/31/1998 10:09:00 AM
From: Gary Korn  Respond to of 164684
 
Hal,

The strategy might work for someone better at implementing than I. I've been jinxed on this one. Almost every time I sell the long position (thinking that the wall has crumbled), the stock goes up. Then when I reestablish the long position, and the stock goes down. It makes for some considerable losses.

I've been far more successful at a much simpler strategy that I've used on YHOO, PFE and XCIT: Writing way out-of-the-money naked calls. This brings in premium and offers some price movement buffer. I just started playing AMZN this way as well, and I'm hoping that it will work.

Gary Korn



To: hal jordan who wrote (4884)5/31/1998 3:12:00 PM
From: zebraspot  Read Replies (1) | Respond to of 164684
 
Warning: "Shorting against the box", which is what it sounds like Gary's talking about, has gotten a little complicated since the new tax rules last year. Without doing precise steps to unwind it you could be unwarily tagged by IRS with a "constructive sale".


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