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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Bart who wrote (12917)	10/27/1997 11:34:00 PM
From: Mike Battin	Read Replies (1) \| Respond to of 50167

Bart- Great attitude.

To: Bart who wrote (12917)	10/27/1997 11:44:00 PM
From: Sticks	Read Replies (1) \| Respond to of 50167

It's been a tough couple of days. First a blizzard with 4 ft of snow and then a financial meltdown!!! Hong Kong looks bad right now (down 15.64%), so tomorrow could be a repeat of today. I do subscribe to the view that this will run its course and set the stage for a tremendous rebound, eclipsing the comeback of '87. Why? Because there is nothing fundamentally different today than there was last Monday !!!! The earnings of the last few weeks were a plus, not a minus. When the bond market crests, where is everyone going to put their gains? I think it will be US equities. Now a question on how things work. Can someone please help me understand the following. On Thursday, I bought 10 puts on a stock at 1 1/8. The stock has dropped from 18 to 13. The quote I kept getting all day on the phone (automated Fidelity) was "closed at 1 5/16, bid 4 3/8, asked 4 3/4." When I looked it up on the CBOE tonight it said last sale was 1 5/16 with zero volume. The CBOE quote had no bid or asked. This seems to indicate nobody was willing to sell their puts at 4 3/8 and nobody wanted to buy at 4 3/4, so nothing was traded and the close was the same as Friday because no transactions occurred. Open interest is over 800 contracts. Is this a correct interpretation? Does it sound fishy, or just the result of a selloff with no end in sight? Thanks, Sticks

To: Bart who wrote (12917)	10/28/1997 12:14:00 AM
From: Dom B.	Respond to of 50167

Luv ya too, Baddie (still)...like i said, i transferred bond fund balance to equity fund. hope i wasn't too early... be nimble, OK? //dom