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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: leapster who wrote (847)	1/17/2000 5:56:00 PM
From: Voltaire	Read Replies (4) \| Respond to of 35685

Hi leapster, great to have you hanging around the old home place. I can only tell you what I do and must remind you that about 80% of the things I do go against the book. I for one never play events, rather I buy or sell the overall SITUATION.. With that in mind, I was buying the 2001 Jan's in different denominations last week and still have a lot of dry powder. when I am swapping stock for leaps, I prefer to do it at the money, this has proven difficult because of the numbers I was converting. If you play a specific event I feel you can get just as good of odds in Vegas. I believe in being in the market to some degree no matter my feeling about near term. I like a lot of room to work so I go out to 2001 Jans and simply work off of that position with the idea we will go up and down on an ascending scale, this longer field allows one to conduct his or her plays without the anxiety created by near term calls. No matter what I may feel about a correction to some degree in the month of Feb, I still will be in the market. After seeing the content of AG's speech I am reassessing the extent of the correction I see. The Fed has basically thrown up it's hands and said there is very little we are willing to do to correct what people seem to feel is and extended market. That mollifies to some degree my feeling of a 40% correction. The reason for this is if the Fed is out then that leaves it exclusively up to the Houses and I have seen signs lately that the Houses themselves are beginning to lose control of this market. I will have more to say about my position on this a little later, all I can say is I was stupefied by his speech. I think there was a lot more there than might have met the eye. V P. S. - Got to get dressed, going out again tonight, I guess it beats fighting. I'll try to have no more than two drinks.