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To: John Graybill who wrote (50373)	1/20/2000 6:05:00 PM
From: John Graybill	Respond to of 53903

FWIW, does anybody else think that shorting MUEI from 12 1/2 back down to its inevitable low of 10 (a 20% drop) is more of a slam dunk than shorting MU at 70 for a 20% drop to 56 or below? Running MUEI up to 13 in the days before expiration on the tired CPQ/DELL/IBM/HP buyout rumor is about as big a "Kick Me!" sign as one could ask for. Blowoff protection in the form of a call spread is kinda prohibitive, though -- the expected gain out of the short is only a strike price, and you would pay nearly half of that for a 12 1/2 - 15 spread. Oh, so tempting. --------- p.s. on the February matter: send me an email -- john.graybill at siliconinvestor.com -- and I'll mail out the charts for the period.