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To: Rich B. who wrote (3139)	11/19/1997 9:18:00 AM
From: Big Dog	Respond to of 95453

Rich, I don't know anything about forecasting earnings. I just read what others say, and Jefferies is predicting FGII will grow to $3.15 per share (split adjusted). All I know is the company is making alot of money and will continue to make a lot of money for the forseeable future. I also have a lot of faith in the CEO. I know him and I know he has a big ego and he will be wheeling and dealing to enhance shareholder value...since he owns about 50%. I am atively trading the covered calls. This has been a good strategy so far to reduce risk, and in light of current weakness in the sector the reduction of risk is a good thing. I have some Nov. 45's expiring Friday and I will sell the Decembers on Monday. But I may move to the 50's, depends on what's going on. I also have some Feb 35's that I may be able to buy back at a nice profit soon if things don't turn around. Covered call selling seems to be an excellent thing to do right now. I like it better than shorting because of the premium decay on the calls.