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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v) -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (1859)	4/22/1998 12:13:00 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 3335

Henry Off Topic Everytime those bear-feelings tap me on the shoulder.... I get nervous and start visiting the Gold and Silver Threads or start looking for culmination senarios....this happens frequently and requires enormous discilpline or my positions would be reduced to "0". I've just done that...>>chuckle<< So I'm going to reverse myself from that earlier post. I have to ask weither the trend which started after the 1987 crash is in the process of being resolved..? Is there any significant reversal or event causing the continued trend to reverse..? With the exception of Japan.....there is nothing evident. Yes...we may see a 10-15% market correction...a bit more then October or any other pause in the markets expectations about the continued stronge economic conditions. So...I am willing to stay 85% invested in large cap companies and accept that loss of 15%. I have maintained this postion since before 1987 (with some hedging), although I have rotated in and out of more defensive postions like utilities. Today....because of Japan and perhaps further along the Euro, I am beginning to look at hedging the profits of these large cap stocks. There seems to be 2 choices for conservative hedging... 1] Index Option Puts -- Far out in time and money 2] Leaps on the individual stocks -- also far out in time and money 3] Leaps on Indexes From your experience....would either of these tactics significantly out produce the others in returns if the markets were to drop that 25%. With the leaps I get to keep the stock, but the premium price for some of these like GE Jan 99's for 15.25 with a strike of 75.... With an Index leap DJI 2000's at 11,000 are 16.125.... With a DJX put for Dec 10000 at 9.25... What do you think...? Just asking for opinion...not investment advice. Chip

To: Henry Volquardsen who wrote (1859)	4/29/1998 4:16:00 PM
From: Chip McVickar	Read Replies (2) \| Respond to of 3335

Henry, CLK and Others -- Off Topic - Euro Thought you might be interested..... This post has some merit....very interesting analysis. Message 3300726 . Henry, you hold that the politics of europe are 50/50 on its' political future and there are many political and cultural forces that will seek to deny the burocrates their big-new-set-up for the "New Europe". Although there is no quarrentee of a stonge euro...if the big boys can pull off a "seemingly stronge" currency and gain political kudo's... and create significant backing hype from the News Media Outlets..? Well....we may yet see the US dollar given a good tumble. And with any significant short-circuit to the bonds and markets of the US.....SIR/ERB's short-term stock appreciation will be called into question and gold will have a field-day back to $400 ++ This piece makes sense to me and the reasoning behind it....makes the whole scenario very important and it will be interesting to watch this event unfold. Remember Buffet's purchase of silver..? Ciao Chip