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To: freeus who wrote (20788)	5/30/2000 12:34:00 PM
From: Ex-INTCfan	Read Replies (1) \| Respond to of 35685

Freeus, it is a fancy term for selling a call and buying a put. You effectively put a "collar" around the stock at a given price -- you can't lose more than a certain amount and you can't gain more than a certain amount. Corporate executives and business owners who have sold out often use them to lock in profits. INTCfan

To: freeus who wrote (20788)	5/30/2000 1:59:00 PM
From: Nichols	Read Replies (1) \| Respond to of 35685

I'm not sure I agree with you. Sure, you'll lock in a double or triple, but if you have a killer company, you may be leaving the serious money on the table. Look back at a few Gorillas and Kings- MSFT/CSCO/INTC/EMC/DELL/JDSU/QCOM. If you sold after a double or triple, you'd be kicking yourself. Lastly, I don't believe it's possoble to time the market. For better or worse, I'm gonna buy some quality companies, and hold 'em for at least 5 years, unless there is a fundamental change in their business. Tracking my portfolio 100x a day was fun last year; it's been torturous this year. Gotta learn to shut the computer off. EDIT: Freeus, perhaps the problem is that you are too heavily concentrated in one stock. Perhaps a little didversification, 5-10 stocks is in order.