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To: Voltaire who wrote (12556)	4/12/2000 10:54:00 PM
From: Ruffian	Respond to of 35685

wallstreetjovial.com

To: Voltaire who wrote (12556)	4/12/2000 11:58:00 PM
From: Dr. David Gleitman	Read Replies (3) \| Respond to of 35685

Good evening V: Time to do a post mortum. I followed your advice and sold CC ATM (or just slightly above it) for April last month right after March options expiration. Got a nicr premium on RMBS, BRCM, CREE, and ELON. Sold some way out of the money calls on JNPR (April 380's seems so far away right now). Problem #1 (jump in and critique me, that's what I'm here for). I figured that it was after the first quarter, and the MM did their window dressings. There was no bad news on the horizon (that I could tell). I pressed my margin to the limit buy buying RMBS (at 336, then 340, then 360, total 1000 shares and sold the calls while margining myself up the wazoo (yes, I am familiar with that surgical proceedure). I placed myself in a precarious position by using the premium to push the envelope beyond toerances taking a bet that the markets will go higher and that the expected market upswing (boy was I wrong- Mea Culpa!) will give me a some breathing space. When the market downturned I bought back a number of my calls and started trading these calls with the flow of the market (which in hindsight, I guess I should have left alone). Seems that I burned myself in the process. Any critiques/advice. Regards, David