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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: David L. Hoevener who wrote (8837)	10/16/1998 2:34:00 AM
From: Joseph F. Hubel	Respond to of 14162

Two more getum early shorts for tomorrow: Avis rent a car (AVI)Gapped up today 4 5/16 (34%)from the 12s to 17 on record earnings. It petered out near the end of the day and when it could not bust 17.5 I shorted it at 17. It has a very low PE but it has to fill the gap and there will be profit taking big time Fri. when reality returns. It had just started to fall off to the mid 16s when Mr. G dropped the rates. It made a quick move to 17.5 and fell right back. Another is AMAT. It will not hold today's gain. Has been a predictable flip flop between 22-27 area. Closed today at 28 13/16. Good trading JFH

To: David L. Hoevener who wrote (8837)	10/16/1998 9:15:00 AM
From: Herm	Read Replies (1) \| Respond to of 14162

Consensus Future 5-yr Growth Rate: 5.87% with a 20.1 P/E does make it a bit on the rich side. Although, I would be very cautious with the major turnaround yesterday. P/E still selling at a discount and it could continue to gap up! NYSE: (USW : $58 3/4) (USWpA : $24 1/4) $28,565 million Market Cap at October 15, 1998 Ranks 94th in the Fortune 500 on Revenue & 71st on Profit. Employs 69,285. Trades at a 8% Discount PE Multiple of 20.1 X, vs. the 22.0 X average multiple at which the Telephone SubIndustry is priced. askresearch.com