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To: MonsieurGonzo who wrote (6515)	8/7/1999 1:46:00 AM
From: Berney	Respond to of 11051

MG, When I was Big-Time umpiring youth baseball games, I asked a fantastic coach why he always sent his runners. His response was that "three things can happen, and two of them help the team." Amazing how the past plays into current experiences. I hope TM takes the time to understand your post!!! Being that it is his nature, he will. However, he still doesn't know how to make a banana split (what can you expect from an engineer type). I also appreciated the post, as I sometimes forget the other side of the equation. As an aside, I've got a picture hanging in my office from the time I was playing options. It is GE. When the Sto goes below 20 on the daily and comes back through, it was a big-time winner more than 90% of the time in a 10 year back test. For it to work, you got to turn off CNBC and forget about TA. Tough to do! PBTB

To: MonsieurGonzo who wrote (6515)	8/7/1999 1:45:00 PM
From: Gersh Avery	Read Replies (1) \| Respond to of 11051

Hi Steve .. It's even worse than that .. __________________________________________________________ options - you guess right, you win. you gotta be right enough! .. otherwise the Chi boyz gotcha ballz and no money left. * options - you guess wrong, you lose. options - nothing happens, the seller wins. __________________________________________________________ ...two out of three is better than 50:50 (^_^) * example: INTC at earnings time. Very tough cookie. In my game account I had both puts and calls. I figured whatever way it bounced I would catch it .. wrong. The portfolio went from ~200k to ~40k the next day. It seems to me that the way to play those days is something like: Sell both first notch in ITM puts and calls. Result: keep all the premium and have a tax loss when the transfer takes place. Buy both ~15 OTM puts and calls x~3(your hedge in case of massive movement .. unlikely)