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To: Jon Koplik who wrote (63509)	1/23/2000 6:12:00 AM
From: Jeffry K. Smith	Respond to of 152472

Jon, boy have I found that to be true. With QCOM's close on Friday I have another chance to keep what I've made. I've just picked up "Options as a Strategic Investment" and heartily recommend it to anyone who thinks that simply buying options is the way to riches. Risk assessment, repair strategies, etc., etc. and what you can afford to totally lose (I have done it many times without wanting to) need to be completely considered. You know much better than I that learning the breadth and depth of as many strategies as possible and judiciously using them (and not considering them foolproof) are a great tool in an investor's toolbox. Best, Jeff Smith

To: Jon Koplik who wrote (63509)	1/23/2000 10:52:00 AM
From: Jill	Respond to of 152472

I completely agree. Although I have to say the type of education you can get in this forum, especially when you have very intensive coaching by generous veterans in the investment world, is compressed tremendously. I often see comments about people saying a year on SI is better than a college education. OTOH, on our thread we note we are only facilitators, and have a lot to learn. I've often stated that options are risky and complex. I never ever said it was easy. I do think it is fairly safe if you are careful--and "careful" takes too long to explain here. mainly it means not buying options on margin, knowing the trading range and fundamentals of a stock intimately, taking speculative risks only on limited amounts of money you can afford to lose (i.e. OTM calls), only selling puts if you have ample capacity to be put (and wouldn't mind being put) etc etc. Jill

To: Jon Koplik who wrote (63509)	1/23/2000 1:03:00 PM
From: waverider	Respond to of 152472

Sage* advice. Rick (how many posts in a row do I have today?) *not referring to white, black, purple sage or sagebrush.

To: Jon Koplik who wrote (63509)	1/23/2000 1:28:00 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 152472

options are to the stock market, what . . . Bonneville Salt Flats are to ultimate racing Indianapolis 500 are to formula racing nitroglycerine is to chemicals lightning bolts are to electricity sharks are to fish genus cocaine is to drug usage agreed, Jon, 100% those who live on a steady monthly diet of options are sure, sooner or later, to give back either 3/8 or 1/2 to the market whooops, wrong analysis ... give back large portions, perhaps most if not all later I am winding down down down my options next is hedge protection and portfolio insurance let's see if I can hang onto this pot of gold count on another 7-8 months of monstrous option call potential profiting for QCOM after that time, you are just playing sector and market timing games / Jim