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To: Winkman777 who wrote (54378)	11/10/1999 1:22:00 PM
From: James Cherney	Read Replies (1) \| Respond to of 95453

Winkman...EVER getting spanked today eom

To: Winkman777 who wrote (54378)	11/10/1999 2:58:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

GaryB - you'd appreciate this... pigs get fat - hogs get slaughtered. JQP; I think we are on the same page (VBG). Sometimes it pays to dance into that 30% maintenace level on the margin acct - dancing with a "call". That is where I was going into yesterday from "over-buying" into this bottom... 3:1 leverage. - have the $ to make a call; but.... I sat and watched the damn tape like a zombie here and ran all the charts. Everything looks like it has 30-50% upside to its prior highs... Look at where PGO can go , OII etc... But; at 3:1 off of this run - what I "AINT" gonna do; is to ride a 5-7% retrace into a 15%+ capital correction and give back these 2 x & 3 x profits. Sold down to 1.25 :1 margin here. Pocketed some nice 3:1 gains on EOG PGO VTS - sold SII earlier for the GLBL rotation; trimmed some GLBL off of margin today at 3 x the 2 day move... had to. Didn't close out anything entirely - but; I want margin buying power to re-buy any individual blow offs; or to re-buy cheaper; on what I see as a retrace to support of OSX 73-75ish; where it held well in Sept - before the big Oct blow off. I also, am dipping into some small caps - RRC, IIR and waiting on CRK and a couple of others. Exciting little move here... margin adds to the adrenalin rush... JQP sounds like you were there too (VBG). I had to trim to "sane" levels; A day, or two on the wild side is about as much "risk" as I can take at that leverage level... a 2-3 day 12-15% pop is plenty x 2, or x 3 leverage on some issues. I still see us going to 85-90 ish very soon; but, I can't take a 3:1 5-7% retrace here on this degree of margin... it is the pentultimate double edged sword. Not recommending anyone sell anything here - but, if you are playing with margin FIRE: never, ever be too greedy with the 2:1 - 3:1 max leverage; been there & done that... spring of '98 - wasn't nice; remember Michael H (VBG)? I've got the falling knife scars to prove it... now, its strictly a "Pigs get fat, but Hogs get slaughtered" use... and I have that saying taped over my monitor right now. but, I learned... now its a "little greed is good" - back to reality and the BP is back to normal as well... (VBG). Damn nice run, 68-80. Gary I "feel" a 5-7% giveback here; MarcC - you are probably right as well... I was damn tempted to ride this one as far as it would take us; but an exit off of extreme leverage seems prudent here. Good Luck