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To: Nichols who wrote (10930)	4/4/2000 4:54:00 PM
From: marginmike	Respond to of 35685

It depends if I feel a market has corrected I will use a litlee margin in some cases but only for short stints. I take money off as we go higher and for seasonal reasons. I dont hold stock in AUG-OCT and feb-april. I was 100% cash a month ago. I started buying Q back when I saw it had completed its base. When the naz corrected 10% I put $ to work then added as it came down. I prefer selling puts on days like today due to the wholsale panic premiums, and the added 10-15% downside protection. If a stock is down 20% and you sell a put with 15% premium your downside is nill(assuming price and fundimentals are good). You dont make is much on the upside, but in my case I made my killing last year I am just trying to make a 20-30% return and preserve my capital.