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To: Step1 who wrote (116010)	8/8/2001 3:40:43 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<<The simplest idea is usually the best, so just a few BA puts under the mattress will do best...>> I have to confess, I looked at it more as a technical play and as a short based on the chart (rolling out of a rising wedge comprising the right shoulder of a H&S). I also looked more at the commercial biz in lieu of the defense side (which as you point out, could provide them with some protection, but I suspect that aspect has long been priced in). I just bought the puts. Regards Patron

To: Step1 who wrote (116010)	8/8/2001 12:42:04 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

Stepper: Good comments. I like BA as a small short, mainly because the company's primary business (commercial jets) is in huge trouble. Aircraft sitting "in paint" on the tarmac tell a tale. Most commercial carriers have aircraft for sale and the aircraft leasing agents are deep doo-doo. With "glut" conditions starting to emerge, BA's future profits are less than assured. Nothing is ever a sure thing, but the risk/reward scene on BA is more than acceptable to me and likely to just get better with time. Best, Earlie