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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: joe who wrote (11551)	7/15/1998 4:08:00 PM
From: larry	Read Replies (2) \| Respond to of 18691

Joe, I don't have DELL puts. I wrote some July 110 covered calls on my shares based on the belief that the issue is not going to break through the ceiling. however, the strong close indicated that another 2-3 point gain for DELL tomorrow. I have not bought put for more than 12 months. Found that I make more money simply buying calls instead of buying puts. That probably explains why I am a bad short, but good at longing stocks. I don't like the INTC report at all. I believe that INTC is a good short and should be traded in the low 70s because there is no future growth in sight. And still believe that when the market corrects in late Sept. or Oct., INTC will see 68-72 again. It's now clear that DELL won't stop anywhere below 135. Well, if they don't announce a split on Friday, I expect some imminent profit taking after a spectacular rally. And I will use any weakness (a pullback to 105-108 range as reentry point). DELL will consolidate for two weeks before making the rally toward 135-140. As crazy as I might be, it looks that the market is gonna reward DELL a triple digit PE in the near future. larry!