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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Kayaker who wrote (10291)	6/16/1999 7:44:00 PM
From: kcmike	Read Replies (1) \| Respond to of 19700

Bob, AS I was also searching for a strategy, I bought CMGI Jun 80 straddles (Jun 80 calls and same amount of Jun 80 puts). They were pretty cheap, since it was only 3 days until expiration, but I was fairly confident that the market would move quite a bit, just didn't know which way! I did the same thing with EGRP this week, but it wasn't nearly the gainer. It was definitely a profitable day for straddles! AOL would have worked really nice too. I closed out my positions for a healthy profit, but I may do it again tomorrow. I think we have time to be positioned before Greenspan speaks, don't we? Mike

To: Kayaker who wrote (10291)	6/16/1999 8:01:00 PM
From: Mark Peterson CPA	Read Replies (2) \| Respond to of 19700

I often think that a bit of fine tuning like this can make all the difference. At least hedge against a possible meltdown. It's not very expensive to do, not a very big percentage of the upside. Yeah, but I don't want to be overly scientific about it. When the market climbs its wall of worry, whether you agree with it or not, it's probably a good idea to think about some short-term hedge, based entirely on your ability to sleep at night. But the trades you did sound just as good. I wish I had your ability to time the market... Best regards, Mark A. Peterson