Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: drsvelte who wrote (1526)	8/4/1998 5:42:00 PM
From: bw	Read Replies (1) \| Respond to of 14427

I know today was like shooting fish in a barrel, and did good with my FMO short. Again, this is basically an auto-parts company that recently lost $750,000 p/day with the GM strike. The strike lasted 50 days...The company is way over-extended on credit & shares to be redeemed. Couldn't break $60, and now seems headed for $38 target. Not holding overnight, but will play intraday now that its pattern is becoming familiar. Also bought some MDCO @ $9 3/4. Don't know what came over me! <g> Even though MDCO is in the thick of the declining shallow water day rates, we all know their balance sheet can weather the storm...or still a takeover target? What's everyone's take on consolidation in the OS group? Is it such a chummy group that hostile takeovers at bargain prices don't occur? [I must be reading too many of Slider's posts] Do I really want to admit that I read them at all? <g>

To: drsvelte who wrote (1526)	8/4/1998 10:15:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Doc, in keeping with the themes of our recent discussion, I have five puts for tomorrow. Consumer Non-Durable ==================== CL - it held up the most during the recent slide. Its peers are PG and UN, both took big hits recently. Its strength is primarily its Total toothpaste. However, asking one product to carry the entire company is too much. CL is as much a global business as the other two and everywhere they compete they are seeing each other and the Asian markets especially with potential China currency devaluation will sink this group even further. Just began to slide. NKE - LT's favorite dead money play - hasn't made him any money ever since the day he turned negative on them. <gg> Now it is on my watch list because it closed today at the magic $43. If it breaks $43, I will be in for sure either through put or shorts. Very decent premium for the puts for Aug, Sept and Oct. Cheap, cheap, cheap - but only if it can break below $43 and then its put premium will balloon. Biotechs ======== CNTO - closed below support today, which makes tomorrow confirmation day USA. It has not shown much strength compared to the other biotechs. A relative laggard with real product with positive earning play. BGEN - just the opposite of CNTO. It has managed to stay afloat while its peers like AMGN, GENZ and IMNX have already taken more hits. A relative leader with real product with positive earning but will have short term weakness. ICOS - when PFE drops below $100, this should drop below $20. Closed today below its midline BB. Worsening technical. Tech ==== MU - this is the most speculative one but if one looks at the chart, once it has a day with lower low after a rally, the direction for the next few days is down. The best way to get in is after its initial high tomorrow (my guess is around $33. Short or put. My Current shorts and puts ICOS - short INHL - short PNU - put MU - put