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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (7175)	7/25/1999 11:23:00 PM
From: marc ultra	Read Replies (2) \| Respond to of 15132

Justa, I think Bob's comments today may give me a reasonable idea of how to play this hedge I have. He suggested that if we had a modest correction here than the move back to new highs and things falling into place might not be a protracted event as we start forming a top and if indicators are falling into line. He also suggested that if this short term correction went further perhaps to the 10% area or so that the potential development of a final top might be pushed out a bit further in time than would otherwise be the case. If we take these possibilities than I figure there may not be enough reason to rush to cover my hedge given he gave July as visibility when pressed by a caller which amounts to one week. I might therefore keep my hedge on for the moment and consider closing it out if we get a more severe correction more towards the 10% range since this would involve both more profit and also bring up the possibility of a more prolonged time frame before the current questionable status of the market resolves one way or another. This would also leave me in a good spot at the moment if we get some blue Monday type of days in the next two weeks which I think is possible the way the market is acting. Others please note these are subtle points I am interpreting from Bob's comments which could be wrong Marc