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Pastimes : Prudent Bear Fund (BEARX): contrarian investing -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (759)	8/6/2003 9:15:48 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 793

Tommaso, >>I just bought more BEARX today. So did I. <g> I do not have any energy stocks at this point in time. Have been buying some foreign government debt. Heck, IMO being short or on the defensive side of this market is the same as going long when paper assets are cheap. I have not figured out what is going to happen with oil and natural gas prices going forward. The economy can not handle oil prices where they are now. I have to believe the boys in the White House will play some games to bring down these prices. I also believe they will not let them go down where Texas will be hurt by the prices. <g> I have been watching for entry levels and missed the opportunity last November.

To: Tommaso who wrote (759)	8/7/2003 11:16:44 AM
From: Allen Furlan	Read Replies (1) \| Respond to of 793

Tommaso,welcome to the world of retired folks. A strategy you might consider is "vulture" option sales. Short options way out of the money backed by treasuries for option margin. Example, my thesis is that major airlines are stagnant at best over next several years. In late June I began selling dal 05/35 calls short, added a few cal 05/5 puts short for balance and in July added amr 05/25 calls short. The money brought in can add to your T-note positions. Did the same thing at beginning of year on energy traders, cpn,aes,mir and ep. If you are inclined to take a crap shoot you can go for shorter term positions, today sold 10 acfka and 10 acfwu for total of 4.05. This is much higher risk. Best of trading to you.