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

To: space cadet who wrote (11881)	7/22/1998 1:19:00 PM
From: larry	Read Replies (2) \| Respond to of 18691

Space cadet, I just got back from a mini-vacation and should have answered your mail earlier. Maybe I will send you a mail later when I have a bit free time. Got out of LU between 103-105 this morning. I will definitely buy dip on LU. Fantastic stock. And the trading pattern of LU is even more obvious than DELL, and we will talk about that later. DELL will definitely consolidate between 103-110 for at least a week, but not more than 2 weeks. I wrote DELL August 120 and 110 calls on all my shares when I sensed that Greenspan was going to raise the hammer, and bought back 60% of those calls this morning at a much lower price. I don't expect DELL to go below 100, even on a intraday level. To play DELL is easy. I guess that you can buy some August 120 later this week. But save your money when the market stabilizes and DELL gives a buy signal. I expect a 25-35 pop up within 7-10 sessions when the baby really moves this time. I will save most of my money for that furious rally. So my strategy right now is to relax and enjoy what the bears can do to the market. It's simply not the right time for bears to quit hibernation and they will get caught in a squeeze for sure. Gradually accumulate some DELL shares and calls. When the time really comes (at the beginning of August), get ready to see a 50-100% pop up of your portfolio within 10 days just trading MD. After the play with DELL, I think that I will begin to buy some puts on certain issues when the activity of bears reaches 100%. Thanks for the tip on some great stocks. I like them. good luck, larry! BTW, HWP has warned 9 of last 10 quarters. What a lousy issue! I fully expect them to warn for the next 4 quarters. Maybe their CEO and CFO always take a put position on DELL before they announce warnings!:)