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To: Cogito Ergo Sum who wrote (7295)	4/24/2004 5:26:31 PM
From: tyc:>	Respond to of 313518

Thanks for your interesting post. It started me thinking. (What follows is just discussion arising from it). >>Actually I'd like it for that mainly (i.e. to hedge) Then I take back my negative comments. Logically, even if the market doesn't "crash" one might be able to make money on both the bull side AND the bear side because all stocks have volatility. Even though I am bullish, I have made money recently shorting several stocks simply because they reached new highs. These included BNS, QBR.b, AGE and NGX. (admittedly, the last two were hedged by a holding of warrants). There is no doubt that these short positions hedged my PF against a market decline, and yet I made money on them even on a rising market. Why do shorts make me nervous ?! A moot point: I see no reason that playing both sides shouldn't be standard procedure especially for someone who is worried about market declines. I suppose puts could be a fair proxy for shorts especially in a RRSP under the new rules. P.S. (To play the short-side conservatively I keep my positions un-margined i.e. supported outside my short account by free cash at least equal to the changing value of the short).