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Strategies & Market Trends : BFT: Will the tulip craze ever break down? -- Ignore unavailable to you. Want to Upgrade?

To: Gordon A. Langston who wrote (194)	3/27/1998 6:02:00 PM
From: put2rich	Respond to of 650

Gordon, I don't know much about option strategy as well as try to avoid it as possible. But I think, more than long/short the option timing is critical. I had some small April puts last week (as well as long term shorts) and planned to averaged down and hope in a week or two this one should go down 2 or 3 points at least enough to have some supplemental gain. If you suspect that they can hold on to the price for a while then the later to buy puts the better. Hope others can answer you better. But as we saw today the effect of true selling in the range of 200k shares near the trading end was dramatic. And I just hope that it will drop much more in the coming days and in April.( secondary offering, end of Quarter, tempered bullish market, tons of better buys and lower risks out there, one or two smarter MMs in bfit call it enough and get out first...) You are right that the rising since May '97 to present is a near perfect (very long and strong uptrend) but to me quarter to quarter performance has not been improving that good. And of course my timing in shorting was far from perfect.

To: Gordon A. Langston who wrote (194)	3/27/1998 6:23:00 PM
From: Pancho Villa	Respond to of 650

To All please read: I don't have any comments but the 400K+ volume today was interesting. I should break under 30 next week. I wonder who is dumping. It may be Danoff. Fido has been caught holding one too many hot potato, ATML comes to mind. In the mean time, I will go through the 10K with a magnifying glass (something which believe it or not, the analysts and MMs may not be doing) and will expose every single revenue enhancement trick I find. No one has commented in the one I found this morning: reporting of option compensation in afoot note rather than in the P&L statement, Zacks of course does not pick that up. I will also prepare a detailed account of their revenue recognition which in my view has gotten extremely optimistic. Here we are dealing with as sophisticated accountants as you can find. It is no frequent you find a team of auditors among the top management team. It is a good thing their former employer keeps them on check:-) But don't worry, we will bring out all the revenue enhancement cost reduction strategies for the little and big guys to read..... Pancho