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To: Poet who wrote (34168)	12/4/2000 11:06:42 AM
From: jambo-bwana	Respond to of 35685

What do you like long here, BTW? Looking at cien, brcd, itwo, sunw, cree and glw to name a few. I already have partial positions in a few of em and am looking to add. I am also interested in the semi equipment sector but I think that there is still room on the downside for now in that sector. QCOM looks great but I own so much of it that I don't want to buy any more. In most cases, especially in a market environment such as this one, I look to establish positions using 03 leap calls - and then I would look to establish a synthetic long by selling ITM puts short when the market stabilizes. This approach limits the downside in case the market caves - at least until I sell the puts short. Keep in mind that I have the cash to accept assignment on any puts that I sell short - so it is not a case where I will be margined.