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To: Sonny McWilliams who wrote (13977)	12/5/1997 9:30:00 AM
From: Stonehenge	Read Replies (3) \| Respond to of 27012

Hi Sonny. Time for a big drop this morning, but I would bet there will be a nice rally later today. Don't have Disney but bought more intc and cpq this week. Just couldn't resist these prices. Sold 50 CA and regret it and will probably find a way to buy it back on any weakness. Have a great day.

To: Sonny McWilliams who wrote (13977)	12/5/1997 5:29:00 PM
From: Sonki	Read Replies (2) \| Respond to of 27012

Sonny,ASND+ TAX. i bot csco last april and sold long leap against the stock. wh ich will take my csco into a long terms 18 months period by the time i get called away. Action : covered call. Question: Lets say i got $15 (in 97) for a $90strike. I will get $90 in jan 99 when i get called away. Do I report $15 income in 97 and and capGains in 99? would it be considered a long term investment? or does my holding period stop for the time i am doing covered call? Please ask the expert in your house. thahx. As for asnd, buy or not should be based on weather you belive they will make what they said they will. I was tempted to buy it yesterday but I did not want to do it based on rumors. As you know we are not so special that we would be privledged to this kind of info. Many a times you hear merger mondays..right? How many did you know about ahead of time? I saw ASND had this kind of rumors before on option expirations day. This time there was no experaion so I m tempted to belive something is happening