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To: John Harton who wrote (8423)	5/24/2000 12:40:00 AM
From: smolejv@gmx.net	Read Replies (2) \| Respond to of 11051

why Tuesday (in my case)? Has something to do with Aug 97 experience (and some other Tuesdays). In this case however I would say its (serious) bleeding, but not (yet) haemorrhaging. "holding on straddle": sticking to our guns in times like this reminds me of a (rather dumb) joke about the he-ant pumping the she-elephant. Mistaking the sounds she's making for sounds of pleasure he purrs:"Suffer, baby, suffer..." We're just the ants riding the big market. I would SHORT gorillas, if I could - to a predescribed limit. I dont average down - or up either: If I have cash I can start it working at the time zero point. Asking for a better price by averaging is a point missed: it means you're not (yet) sure about your future ROI, so you play the table. Averaging is OTH good, if it commits a part of your cash flow. "Also the calls decaying faster than the puts appreciating" Dont straddle in a clear trend, that's all. "all in cash": no way Jose,now invested cca 10%. Cash is dangerous to me, it burns my fingers BTW, where's the rest of the gang? In cellars? Sleeping in the community hall? It's tornado season, dudes, you should be out there sailing - even if it's a stormsail, one little put on DJ would do. dj PS: Mosel? you would need another two days (g). Coblenz, Trier (to visit the house Karl Marx, Karl not Groucho, was born in) and all kinds of Weinhauser on the way along the river.

To: John Harton who wrote (8423)	5/24/2000 8:50:00 AM
From: Trading Machine	Read Replies (1) \| Respond to of 11051

Yeah John, I went out yesterday at the close when we failed to close above my line in the sand and also had a closing marubozu on OEX. I have a long term trend line under OEX at 741 and when it fails to close above it, I'm out. Intuitively I felt like we would get a pop today but I am trying to play by the rules and yes I've been whipsawed before but here I am in cash this morning. I hope it's up, up and away for all the traders out there that are long. CU PK