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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Andrew Danielson who wrote (16463)	8/11/1998 5:38:00 PM
From: soup	Respond to of 213177

Sold 15% of my Jan '99 $20 calls at 39 3/4 (on its way to 41.) I've developed a selling rule that says "make sure there's still some money on the table so the buyer to make a profit". Prevents me from getting too greedy and screwing myself. Still, I made 522% profit for a holding period of 12 1/2 months. I can live with that. I wanted some cash because I don't know how bad Japan's going to take things down and I want to be able to average down of foreign holdings. [You think AAPL was screwed up two years ago? I have no idea where in the Japanese psyche they're going to find the wherewithal to pull themselves out of the mess they're in. Ditto Russia.] Nonetheless, I figure I made a mistake because nobody, with a choice in the matter, should be selling on a day like today. IMO, AAPL's good for at least $45 by 1/99. Not even tempted to sell off my $30 2001 LEAPs.

To: Andrew Danielson who wrote (16463)	8/11/1998 7:37:00 PM
From: Edward Boghosian	Respond to of 213177

You are right, it would have been better if it closed at its high. The selling may be to people who feel Apple has gone too high and too fast. If it does drop, I think it will go to the low 30s but I wouldn't worry because, I think, there is plenty of upside left. Consider this: Fidelity would not take a significant stake for 10 points or a few months hold of this stock. Ups and downs but with a steady upward bias is, imho, the best way. Remember, too much yeast makes for a lot of gas.

To: Andrew Danielson who wrote (16463)	8/11/1998 8:49:00 PM
From: Linda Kaplan	Respond to of 213177

Apple closed two points off the high but also almost two points off the low. It closed pretty much in the middle after making a significant strong new high for the year(s), and in a terribly bad market day. I saw it as the kind of cautious profit taking that some of our members here engaged in, or that traders engaged in. It was possible to make great day trading money today as well as to take profits from waiting for years. In a scary market with potential margin calls and such it made sense for some to pull out some cash. I personally hope the selling will carry through for a while so I can buy back some calls to possibly hold through the next earnings report. I kept my Jan calls and my Leaps, but I need more AAPL! Linda