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To: yard_man who wrote (157536)	3/28/2002 1:01:55 PM
From: BigMoney	Respond to of 436258

<a lot of BAC Apr 70 calls bought today.> not by me of course. im short big time and it hasn't gone anywhere since i shorted it. i may buy some calls at the end of the day just in case someone knows something i don't. but most likely somebody is hedging against a large short position opened today. IMHO.

To: yard_man who wrote (157536)	3/28/2002 3:07:15 PM
From: BigMoney	Respond to of 436258

well, i hedged my short with the Apr 70's i get the feeling they will expire worthless. which is fine with me as long as the stock goes back down to 65 and not up to 69.99

To: yard_man who wrote (157536)	3/30/2002 3:43:06 AM
From: BigMoney	Respond to of 436258

JNJ looks ripe for a pullback also. looking at historic p/e's back to 1992, JNJ has never had a p/e higher than 36 EXCEPT in 1998 when earnings fell around 10% from 1997 levels which caused the p/e to spike up to 40. i think she's good for 3-5 points down. will probably start with some May 70 puts. Year 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 Earnings 1.84 1.70 1.47 1.11 1.24 1.08 0.93 0.78 0.69 0.61 P/E Ratio - High 33 31 36 40 27 25 25 18 18 24 - Low 22 19 26 28 20 19 14 12 13 17