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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Dushyant Narayen who wrote (82265)	7/12/2000 6:29:09 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Dn, As I've noted several times recently, I've made a ton with bear spreads on internet tech stocks, many down 60-75% in 3 or 4 months. One does not buy puts straight out when the market is paying you handsomely to do bear spreads. I have recently been neutralizing that position by taking on bull spreads in a number of names, including Beas, ALLR, VITR, VErt, Vign, and Exds. However, I am not bullish on the old techs like MU and Intel who have no chance to grow and have not grown forever. The simple fact is that option premiums, especially at the long end of the time line, where I like to pay, have been fat and it has made much more sense to play a bearish position by using credit spreads instead of straight buys. Yahoo faked revenues fairly well, though they did have down profits. Seasonality, you know. VGB! The concept of "I will pay you $10 million for advertising on your web site and you pay me $10 million for advertising on mine" still hasn't sunk in on the average maroon of an investor, who thinks these are real dollars. I think Yahoo has zero chance at survival with IWon.Com giving away money for the same services. Which would you prefer, a search engine that says "yahoo" on it or a search engine that may pay you $10 million next year? If your answer is not $10 million, rethink the question. <g> So, I am still ranting and raving, but using the more appropriate tool for an overpriced option market. BTW, if MU fills every canyon in Idaho with held back and uncosted inventory next quarter, they may have another "eps gain." <g>