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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Ted Downs who wrote (149)	1/5/1998 9:24:00 PM
From: James F. Hopkins	Respond to of 708

Ted; Well I use to play puts on her, it was a lot of work, and damm little profit. I never shorted her , and have told every one that shorting her is a suckers play. You can not beat the brokerage houses and people with the inside dope. If you make it one time it just sets you up to get took the next. They are looking up your rectom when you short, and know just about how many are out and were the stop loses are. They will jack her up till stops kick in and then short her right back to the shorts who are covering. People can't seem to get it through their head that you can't beat the pros who are milking this baby. I'll look at some more puts if she gets up to about 97 or 98, till then I see two many other places to play that offer better risk/reward. To play AOL you have to get into her every day and watch her like a daytrader, it's just not worth it. She will fall "after" the shorts give up and the pros can't get any more of that milk out of her. I may have talked in the past to give people the idea I shorted her, as I somtimes say I'm short a stock. But that's just my way of saying I got puts on her. I have thought of it; but would never short naked or use stop losses. The only way I would short is if I found calls cheap enough to cover my position. IE like the premiam on calls happen be enough less than puts, so you buy the calls and short the stock, this takes planing and the buying of calls on her down swing then wait for your target price to short her. The ones doing this bought calls months ago, heck I haven't even looked at her options in months. But the last time I did the primiums were high, ( to many people in the game ) Jim