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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (1450)	3/12/2001 5:19:21 PM
From: Tommaso	Respond to of 23153

All I have to go on is experience. I had no trouble buying the contracts, and they are up 16% today from yesterday. This is on about a 4% decline in the Dow. Given my beliefs about the market, that's what I want. I believe that the 11,200 break-even figure is the one I gave you. But please note that one only loses all the cost of the option if the Dow is at 14,000. I just think that the Dow has not until now even begun to show signs of heading into a bear market. It's still more or less at a plateau that it hit in early 1999, while much else has dropped. Oh my--a year ago I was shorting XLK, the tech index, and arguing the same things with longs in tech.