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To: SJS who wrote (11579)	1/21/2000 6:37:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Steve, you win the PMCS bet hands down. So what do you want as a reward? How about my assessment of TOC? Nothing much to say except I will buy it next Monday based on its breakout today alone. <GG> Let us know more about its Canadian partner. Is its partner traded in the US? I would not let the GNSS fiasco this month change my option writing strategy. It is simply part of the risk-reward picture and one should be able to handle the lump from the risk side just as receiving the gift from the reward side. GNSS simply blew up - one bad turd among many teddies. In investing, retrospection mostly serves to confirm the damage and less as a learning opportunity. Real learning comes from multiple-experience and not one blowup. Writing further out GNSS put was an excellent choice based on the premium received at the time of the deal. If GNSS didn't bomb, I'm pretty sure I would have taken the entire pot today (afterall GNSS did bounce from $15 after the big damage). Net, considering the potential reward and risk at the time of writing put, I would continue to do the same deal. No need to back off for me. Pete, CUBE is still marching on higher high so technically it is fine although the risk is high again short term. If you are concerned about a pending meltdown, how about using a selling into strength strategy or sell calls?