Mike:
There is serious wisdom in what you say. There is way too much funny money tied up in these phantom stocks; collectively, we will eventually pay a heavy price for the havoc wreaked by greedy day-traders and even more greedy market makers.
I have always thought puts were the way to go with YHOO etc. Shorting the internuts causes cancer, or worse...
Playing puts on these creampuffs is like walking into the casino with $1000 in your pocket and your credit cards left at home. You count your money as "lost" -- an entertainment expense, if you will --the minute you walk in the door, and since you think that way, anything positive that comes of the exercise is gravy...
Granted, I've lost a few $$$ playing YHOO this way the last year or two, but no more than what I could afford. And the entertainment, needless to say, has been priceless. Like watching gerbils mate in outer space. Or better.
Meanwhile I have puts a-plenty out to 2001, to keep my "eye on the prize," so to speak. And if those puppies don't score, well... it's a nice feeling being called too "rational" on this board and elsewhere.
Where else can you called names by people so brilliant that they themselves admit that logic plays no part in their investment strategies? I don't know about you, Mike, but the whole experience makes me feel like the hero in Ray Bradbury's Fahrenheit 451. As I said earlier today, I'll be hanging around the hoboes before you can say "carry-forward tax loss."
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