BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Donald Watson, Jr. who wrote (20104)	4/30/1997 6:27:00 PM
From: Cascade Berry	of 28369

I was just suggesting that the stock was a lot safer than the calls. And the news today suggests another month of uncertainty - at least on the part of those "not in the know" - and there are a lot of people who would lose face if they were wrong again on the stock - so the aggregate potential buying power is less than before. If the hyperbulls are right I make 90% in one month. I am using funds from my RRSP so I have to be careful. You haven't mentioned your criteria for your sell decision on the calls - you will have to either exercise them or sell them by May. Making that decision in the midst of next weeks volatility is going to be both enjoyable and difficult. Of course you could unload them immediately and trade the calls in for stock (exercise). I do understand your points, however, I do have a different risk tolerance profile with my retirement funds. I have to be careful. Is there really that much more leverage in the calls? Yes if the move is 15+ by May 16, no if the move is only 10+ or lower by May 16. Very best wishes. You (we) will be vindicated.

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