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To: Jorj X Mckie who wrote (9378)	8/8/2000 4:13:19 PM
From: Ilaine	Read Replies (1) \| Respond to of 436258

Thanks for setting us straight, Jorj. We should all learn to emulate people who buy stocks that go up.

To: Jorj X Mckie who wrote (9378)	8/8/2000 4:21:28 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

sorry, jorq... but not knowing what a put contract is and how it works is pretty basic information you need to know. clowns are clowns because they are simply buying charts and think they have some special knowledge and are "masters of the universe" simply because they have had some success in guessing the turn of the mob in the greatest mania in history. just another example of the ignorant making a little dough, and thinking they have it ALL figured out..... sooner or later, all clowns get destroyed. it's just the way it works.

To: Jorj X Mckie who wrote (9378)	8/10/2000 12:20:13 AM
From: John Pitera	Read Replies (1) \| Respond to of 436258

actually Gary was absolutely right lets say that CSCO is at 60 and the puts are worth 7 bucks apiece. OK if the stock goes up and looks to be going to 75 what does the holder of puts do to make sure that his 7 bucks a put does not go to zero. He can sell them but then the new buyer has to deal with the same issue. WHen it's obvious that CSCO is going to 75 the only thing to do is to buy CSCO common the same amount of shares as the puts translate into and the long common stock position goes up in value while the puts go down in value. This is common knowledge and Cramer has written voluminous pieces about it, so have about 50 other people who work in the industry. Monty is the clown. because a big put position acts like a floor also any decline in CSCO then becomes incentive to start taking profit on the puts by selling them and the dealer who buys them will hedge their value by buying CSCO common. John