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To: Monty Lenard who wrote (9897)	8/10/2000 10:13:23 AM
From: chic_hearne	Read Replies (2) \| Respond to of 436258

Monty, I got into IBM again today and I'm going to ride it over $120 again. Yesterday I got out at 120 3/4 as it hit a roadblock. Didn't you say you saw resistence at 121 3/4? I might turn around and short it if the market breaks down like yesterday, it will probably have the same action... I'm also very tempted to go long AMD right now, they have a conference call in an hour and 15 minutes...

To: Monty Lenard who wrote (9897)	8/10/2000 11:41:23 AM
From: John Pitera	Read Replies (1) \| Respond to of 436258

Monty, I agree with you that someone with puts is not forced to cover look at someone who bought longdated puts on AMZN above 100 they could just be riding them on down to current levels. In fact were AMZN issued convertible debt the debt holders have a free ride to short AMZN common knowing full well that if AMZN went up to 1000 their short stock position would not hurt them as it was offset by their convertible bond position that could be converted to common. JOhn