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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: xstuckey who wrote (75556)	3/5/1999 5:38:00 PM
From: Gerald Walls	Respond to of 186894

As for shorting an index, you can't do it. I don't think you have studied this problem. All you can do is buy a put on an index. Hope springs eternal, options expire. You can short Diamonds (Dow Jones Industrials) and Spyders (S&P 500).

To: xstuckey who wrote (75556)	3/5/1999 5:40:00 PM
From: Chris Carlson	Respond to of 186894

I posted before reading your post, a much more concise one. My apologies to all for the redundancy!

To: xstuckey who wrote (75556)	3/5/1999 5:48:00 PM
From: Michael Bakunin	Read Replies (1) \| Respond to of 186894

X, If I feel a stock is significantly above fair value, I sell it. Were that position 100% embedded gains and 100% of my capital, I'd sure work hard to minimize taxes. But I wouldn't hold and pray. My technique (#reply-7842778) keeps you in stocks, and gets you out of your position without realizing gains. You can hire State Street, among others, to do it. Fees and transaction costs are trivial compared to one-fourth of a large, substantially appreciated position. However, I finally understand your point. It is encapsulated by your implication that Intel's stock will outperform in the future. If I thought so, I'd stay long, too, but I disagree. Mark your calendar; we'll revisit our respective strategies in five years. mb