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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (18563)	3/17/2000 9:37:00 AM
From: Lucretius	Respond to of 42523

it'll be important to see if amat is sold off that otut as MU was sold off of the gruntal tout yesterday. btw: FTSE is rolling DOWN out of its dow-like blastoff of a week ago.. quote.yahoo.com^ftse&d=b

To: MythMan who wrote (18563)	3/17/2000 10:18:00 AM
From: Defrocked	Read Replies (1) \| Respond to of 42523

Nah, I sold my AMAT puts a little early but got a triple on them. Same with the CSCO and DELL puts. Didn't make quite as much on the INTC puts but I know I made more than KIS did on his psuedo-half-his-NW-call play. Unfortunately, I'm giving some back on Mar OEX puts which I "just had to buy" given the incredible runup yesterday and complete capitulation by the bears. I also have some Apr OEX puts which will probably expire worthless. Now I have a "confession" to make: I actually bought some stock yesterday. Namely, NT, SDLI, JDSU, NXTL, HLIT and AMAT. Not a lot but just enough to participate in yesterday's rally and offset the OEX puts. I'm afraid the Fed will only bump up the target rate by only 25bps since they are so fearful of lags. They should do 50 bps of course but 25 bps will send this market skyrocketing while 50 bps may only slow it down. I'm not in love with these equities. I used to own a lot more of them but dumped them after huge gains in August '99 only to watch the broadband plays triple and quadruple after that. I'll pick another spot to play the downside but not now, not here. Selected stocks, 65% notes/munis, real estate and cash are my strategies now. I thought this week had an inflection point with downward implications but got the 1st and 2nd derivatives wrong.<g> As we get past the Fed next week and the OPEC meeting Mar.27, I don't see where a negative balance of data can impact this incredibly bullish euphoria. Can't bet on China/Taiwan problems or appropriately-placed Iridium meteorites. The bull appears alive until the white of inflation's eyes comes bearing upon it. That may not come to pass until May and the old highs are approached. BWTFDIK.