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Technology Stocks : CORNIG-GLW: Fiberoptic King -- Ignore unavailable to you. Want to Upgrade?


To: Bruce Ravelson who wrote (10)2/5/2000 12:40:00 AM
From: steve mamus  Respond to of 30
 
Will do.
I would be patient.
I remain concerned about the market and have been selectively adding to naked put positions. My thought has been to do this with stocks that I really want. My thought with GLW was 147 better then 172 (sold 30 contracts at 147) with effective price of 99 when contracts expire in Sept. This would P/E of ballpark 35 on a stock with earning growth of 30% per annum with expansion of earnings likely going forward over next 1-3 years. I share your concern about buying at too high a price. Recently when JDSU pulled back to the 180's I sold Sept 220 puts. This is an aggressive position but I feel comfortable. I sold Aug 320's BRCM calls naked last day or 2 at 71/share. In short term I don't think price of BRCM is sustainable at 320+. Might check out IBIS they have interesting chip technology.

Steve