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To: Bonnie Bear who wrote (7758)11/13/1997 1:48:00 AM
From: S. maltophilia  Respond to of 18056
 
NCBE looks vulnerable if that neat staircase of quarterly earnings gets interrupted. With only 9MM shares, low volume and $1 spread it could be a difficult short to live with. I like puts on big banks for now in small doses for their potential and as "portfolio insurance."