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To: Poet who wrote (3484)	2/23/2000 12:38:00 PM
From: edamo	Read Replies (1) \| Respond to of 8096

poet...."scalps and stuff" scalps....e.g. 2/11 sold 10 x jdsu feb195 for 4, with common at 202.75....belief that the stock in one week would close above 191 (195-4) on a scalp you don't have to "win" totally, can close on thursday if you feel you can't do any better waiting until friday....if it goes against you, close for a loss or roll to next expiration. again, i repeat that i focus on few stocks, if opportunity presents itself i make an attempt to take it... stuff.....if i have a position that appears to be in the process of expiration, i will close it providing i have another position with a much higher premium to enter. i just entered a buy to close on 20xjdsu mar165 at 1/2 limit....bid(size 2) 1.375/ask 1.625....way under the bid and ask....but some speculator/trader/hedger might be willing to pay the 1/2 today, if the stock jumps this afternoon, or if a foolish market order is entered.... in these markets the illogical becomes the norm...