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To: pater tenebrarum who wrote (55431)	8/7/1999 8:50:00 AM
From: re3	Read Replies (1) \| Respond to of 86076

Hi Heinz... Heinz, i've noted the following when i've stepped up to the plate to buy poots... for eg... on the djv august 110 poots...the spread is a quarter dollar...my commish for 10 contracts = about a nickel a contract on avg...so, if one buys and sells at the market, one is sort of out of pocket 60 cents for commish plus the spread right away...this makes it tough to make any money off of a decline...secondly, with the erosion of time being a factor, if one tries to buy poots to take advantage of a 100 point decline in the dow, one would perhaps net about 25 cents on the trade, 60 cents for costs and maybe 15 cents for time erosion... it seems that its very very difficult to play poots, maybe one needs more than 10 contracts to make it worthwhile, but hey, 10 contracts controls $ 100,000 of dow stocks YOUR COMMENTS ??? thanks ike

To: pater tenebrarum who wrote (55431)	8/7/1999 9:20:00 AM
From: Giordano Bruno	Read Replies (2) \| Respond to of 86076

Do bubbles have feet? Has our beloved bubble shot itself in the foot? Again? ''There is a premium emerging again in owning Treasuries,'' the strategist said. ''There were all these rumors yesterday about another hedge fund in trouble -- about serious problems at banks and hedge funds -- that might produce a bid for Treasuries. It certainly didn't help other parts of the market. Yesterday was a dreadful day for everybody but Treasuries.'' biz.yahoo.com Rumors about liquidity problems among hedge funds and possible derivatives-related losses at large institutions over the past two days also weighed on the market, dealers said. Swap spreads tightened slightly from levels not seen since the 1980s, they added. ''If you look at what accounts do these days, they sell swaps, and the swaps market has gotten obliterated in the last few weeks,'' said a high-yield corporate bond trader. biz.yahoo.com