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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Dom B. who wrote (50950)	8/27/1998 9:23:00 PM
From: Pierre J. LeBel	Respond to of 58727

Good evening Dom, I expect to exit and take substantial profits by next Tuesday, maybe earlier. The way I see it, the whole market is coming down very quickly, a bit like 1987. A few more days and we should touch a temporary bottom. Time to cash in my OEX Puts and partially close my bearish spreads. As far as Dell is concerned, this is a very special opportunity because of the time of the month. Money managers have been loading up on DELL in the last few days, including almost forty million shares today. It is strictly window dressing for month end reporting. What else can they buy to make themselves look good? Once that buying is completed, and I suspect that it is almost done, there is simply no one left to buy Dell and everybody, his sister, brother and mother-in-law are ready and willing to sell Dell and capture those huge profits to offset the many losses investors are facing these days. Dell may be a great stock but, not at a p/e of 80. It is strictly a question of timing. It is quite probable to see Dell under 110 next week, possibly below 100! (Even after dropping to 100, it would still be up 150% in eight months, while earnings are expected to grow at 70%!) Have a very nice day. Enjoy the ride on the way down. Pierre