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To: re3 who wrote (63554)	6/21/1999 1:37:00 PM
From: 16yearcycle	Respond to of 164684

<VBG> So he didn't. Last year I bought a ton of oex puts around September 15 to protect 5+ year tech holdings in the usual gorillas that all of us seem to have. Brilliant, right, as the nas dropped 20% in 3 weeks? Wrong! They lost tremendous value until about 10/1 and then got back to even when the collapse peaked on 10/8. I got out and went long with the money. I had very good timing and luck and didn't make a dime with those puts. I did the same thing at the end of January,(feb always sucks). Covered on 2/22 or so with the nas down 8%. Lost a bit on those.It is a losers game, imo.