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To: Judy who wrote (9454)	11/5/1997 6:01:00 PM
From: Patrick Slevin	Respond to of 17305

As it happened, it did not. My problem with these rallies is, they (until today) come early and then flatten....come on little volume with little short selling... Eh, what do I know...scares the hell out of me often enough, and this is how I make my living, so I must be confusing the hell outta the credit card companies. -----saw this really darling Gore-Tex golf suit today....

To: Judy who wrote (9454)	11/5/1997 6:37:00 PM
From: Patrick Slevin	Read Replies (3) \| Respond to of 17305

Okay, I like you....so for AV's benefit, I'll tellya how I got into this stuff. (You did ask where I'm at, you're the only one). When my father grew up in Ireland his auld man taught him how to trade grain. A Provo, he booked to the US after Michael Collins took power inches before the regulars put a rope around his neck. While I played chess with him as a child, he used to talk to brokers about grains....they gave him a favor by touting him on Sperry Rand at 12 bucks....later told him to sell out at 62... The auld man went bersek when the stock went to 66 before falling to 8, or so. He could not understand why his broker did not get him out at the very top...... The guy spent his life eating steel for GE, probably made no more than $80,000 in his entire life. (One of the reasons I own GE stock!!!) So...he wanted me to be an engineer....first job? While in Graduate School I took a job with Sperry...sure enough. Leaving Sperry I went to Fairchild....everyone said not to buy the stock...what did Fairchild know...the stock was at $8. When I left 2 years later, it was $32. On to Singer....Singer's stock was $9. Looking at the buildings it seemed like the stock was worth 9. Everyone in the company said no way. When it hit 6, I bought and put 15% of my salary (the max) into employee stock purchase. Some geek bought out the company in 1987 for $49. Along the way, I did well trading options, starting with Conoco. I got laid off in 1990. I had a bundle. Sooooo, I went into NYC and got crushed for 2 years. Now I'm okay. § § § § § § § § § The point, for Mr. Vance's benefit, is, I too rode a hot streak while getting a check. I too, got laid off just before a market reversal. I took a beating learning how the game works for people who trade for a living. Survival is not planning to make a thousand a day, not going for the big trade, not planning to make a million this year. Survival is preservation of capital...making smart trades when one sees them, bailing on trades that seemed to be smart but turned out not to be so. Okay, that's me. Gotta book, see ya perhaps around Thanksgiving. (Who knows, I might get sentimental around my birthday!!)