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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 222.55

-4.4%

Nov 18 3:59 PM EST

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To: Bilow who wrote (81365)	10/20/1999 2:59:00 PM
From: Lizzie Tudor	Read Replies (1) of 164684

If you have just put nearly your entire available trading equity into out of the money AOL calls, you would qualify for gambler's anonymous... Well, I am going to violate my own rules here a little... I get a little irritated when some of the bear threads, etc. refer to the bulls as "joe six pack"... dummies etc. - imo the market is a pretty good arbiter of who the dummies really are... but anyway.... Kissy makes it seem like options are so easy... if he really put all his net worth into these plays (as he has said a few times now), he would have been wiped out long ago. I have a tiny portion of my assets in options... I used to use puts to protect against scary runups... those ALWAYS expired worthless except once where I made a 4-bagger on pcln and a 3-bagger on dclk puts. So you can get lucky but its tough. I had AOL calls a few weeks ago, and I didn't follow my own guidelines... I usually do 20 calls and thats it. But with AOL I kept adding... fortunately I sold and shortly thereafter the stock fell, it would have turned a 3-bagger gain into a loss! I actually think a highly margined stock position is better than options anyway, but like I say my old broker didn't let me margin anything so I got forced into it.

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