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To: steve susko who wrote (84388)	3/22/2001 7:04:11 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

not necessarily. as always, one has to keep an open mind about alternate scenarios. that's why i mentioned earlier that my strategy is leaning towards straddles (puts & calls). insurance calls are cheap here...the call premiums have declined as lot as a percentage of comparable put premiums (according to the Ansbacher index, the market is a buy here). so it can't hurt to own some, just in case. but i still feel the panic hasn't yet expressed itself fully. normally, when durable panic lows are made, put demand is so overwhelming that it is easy to get good prices. today it was POSSIBLE, but difficult to do so.