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

To: Knighty Tin who wrote (46388)	1/31/1999 1:33:00 PM
From: robbie	Read Replies (1) \| Respond to of 97611

I saw a trifecta a few days ago at Tampa Bay Downs that paid $102,000 on a $2 bet. The smart money bet that one, not Compaq. Boy, they wouldn't fix 'em down there at Tampa Bay Downs, would they? <g> Compaq can be a zero/one as a gamble, but it is certainly a zero as an investment after the first down year even in pc sales (for the industry. CPQ's sales were up a little) and worse to follow. MB, we won't even argue that one. I admit my projections for PCs may be a little high. I think every home and office in the world will one day have an average of 3 servers and 15 workstations in it, and every auto will have at least one PC in it. Not to mention that everyone will have a palm pc in their pocket. So by my calculations 0.007% of all computers that will be sold have already been sold. And all those sold and unsold will have to be upgraded. I'm being a little facetious here, but you can tell that I'm bullish <g>. I have a question for you. I've been looking to buy some protective puts, because I think the market is way overbought right now. I'm new to this and not having very much luck. If you think stock prices are high, look at the puts! For instance, I just looked at CSCO puts. I bought it back in October in the 40s and sold a few weeks later in the 60s. Bad move, but I think it has gone up way too far, too fast. Anyway, the Jan00 CSCO 85 put is selling for 13+! The stock will have to dive 40 points just to break even! As a raging bull, I can't pay good money for that kind of deal. Sorry this is so long and rambling, but what's the best way to get "insurance" in an overpriced market? BTW, did you get all your CPQ puts, or take a 1/3 position starting out like you usually do? Thanks, Robbie