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To: Poet who wrote (33795)	11/29/2000 9:46:55 AM
From: jambo-bwana	Respond to of 35685

You bought RMBS in the low $40's? Poet, I bought some OTM calls - 2003 LEAPS - when the stock was at about 44. I shall look to establish a synthetic long when the market shows signs of stabilizing. I know that you trade options so you will understand the strategy. Re the market overall, there is a fair amount of despondency on various threads at this point - you even have the mod porch with its perennial bullishness looking for a bounce to short the market. I will continue to gradually establish additional longs - looking at CREE today. One thing to keep in mind is that we could see a fair amount of tax loss selling which could keep the market under pressure until the middle of December.