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To: Jan Crawley who wrote (72326)	8/6/1999 10:10:00 AM
From: KeepItSimple	Read Replies (1) \| Respond to of 164684

Just bought 100 YHUUE (yahoo sep 125) puts Adding 100 YHUTE again. I think this rally is the headfake of all headfakes. We should drop off the cliff in about 30 minutes. Analysts were pounding the table on a ton of internuts this morning, hoping to get out of positions. The advance/decline breadth on anything but the inuts is decidedly negative. THIS IS A HEADFAKE.

To: Jan Crawley who wrote (72326)	8/6/1999 10:24:00 AM
From: Eric Wells	Read Replies (3) \| Respond to of 164684

Thanks Jan - my positions are definitely small. I set loss limits for myself though - and when I reach the limit, I cover no matter what. Today, I had a loss limit on Ebay of 94 - by the time my buy order went through, I got 96. Bought PCLN to cover at 79. I tried to second-guess the market this morning - and it was a mistake. I think my biggest mistake is basing my trading decisions on fundamentals - and doing so with stocks that don't trade on fundamentals. I thought with the recent decline in net stocks that we were witnessing a 'return to fundamentals'. But I guess that EBAY will continue to have a PE of over 1000 - in order for EBAY's PE to reach 100 (which I would still consider unreasonable), the stock would have to drop to 6.5. And it doesn't look like that is going to happen any time soon. Thanks - I hope you do well on your PCLN short. -Eric