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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: ed who wrote (13383)	12/21/1998 7:39:00 AM
From: J. P.	Respond to of 74651

ed, I happen to agree with you that the direction of the market is up, today and this week, although I have nothing but instinct to back that up. Well, now I have the fact that the European markets are up : ) Plus, I remember Thanksgiving week, when the volume was thin, but tech soared, and so did Microsoft. Helped by AOL/Netscape buyout announcement. Maybe we will have a repeat with Xmas week! And I'm not short Microsoft, I'm long Jan 135 calls which have a 50 percent profit on them already, along with a core holding of stock that I don't even look at or trade. The premiums on the options are extremely inflated, and are subject to rapid depreciation on any weakness, so that's why it's important at this time to be very very careful of January options. The level of risk is very high.