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To: sammaster who wrote (174627)	6/22/2002 6:53:23 PM
From: Square_Dealings	Respond to of 436258

I've been thinking home builders would tank for some time now and I've lost some money trying to short them. The problem is I think the PE ratios on these stocks are low and money managers are using them as parking places for money as they sell the brokers and techs. I think whenever the stock market bottoms, interest rates are going to reverse along with the homebuilders. I think FNM FRE HI and CCR may be better shorts at the moment. M

To: sammaster who wrote (174627)	6/22/2002 7:22:24 PM
From: Earlie	Read Replies (2) \| Respond to of 436258

SM: Surviving a bear market, even when one is bearish, is a real test. (g) As you so delightfully note, it is those violent bear market rallies that rip the living fur from the bear. Been there and have the bald patches to prove it. (g) I have ducked back into my foxhole so many times that its walls are falling in. All for fear of those rallies. Nor do I have any idea as to what is the best strategy for dealing with them. I do think it is wise to maintain plenty of cash to protect a position if one gets caught and has to ride it out. I also think it is even wiser to box as soon as one recognizes that a rally is getting underway (easier said than done of course). The good news is that given the ugly route the market is treading, further declines will likely come along and bail you out if your timing is off...... so long as you can take the heat. Best, Earlie