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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Chris Carlson who wrote (23604)	3/12/1999 11:56:00 AM
From: James A. Shankland	Read Replies (1) \| Respond to of 77400

I'm curious, you say you wouldn't buy at these prices; are you holding any CSCO? Yes, I am, though I reduced my position considerably back when CSCO broke about 75 (a mistake, in hindsight). I also have March 105 calls written against my CSCO. I'll buy them back if necessary to keep the stock. As of now, of course, they're out of the money. I will seriously consider buying more CSCO on a price dip. Lately, I've done most of my stock buying by writing naked puts when the price dips a bit, and then taking assignment if the put ends up in the money. So, e.g., if CSCO hits, say, 98 in the next week or so, I might write April 95 puts for, say, $4. Then, if CSCO drops below $95, I end up getting more stock for $91. I consider CSCO a great investment, but I'm a bargain hunter at heart, and my current belief is that patient bargain hunters will get their chance to buy low.