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To: Thean who wrote (1240)	7/21/1998 5:11:00 PM
From: Alias Shrugged	Respond to of 14427

Thean <<...after 9 straight days of record days, how about 9 straight days of losing days? >> Sign me up!! I'll take it! Have lots of puts and calls on CPQ and HD - they started moving (finally) today. I will make $$ as long as these stocks do not just hang in the current range. Have been playing GTW to the downside today, but got whipped around pretty good. made 1.25 points instead of 3, 4 or 5. Oh well. I hope VRC does pop tomorrow. I will drink a toast tonight to a BIG down day tomorrow. Take Care Mike

To: Thean who wrote (1240)	7/21/1998 5:19:00 PM
From: SJS	Respond to of 14427

I got alot of my stock called since Friday, and sold off my CMGI yesterday. Good timing, I'd say. I did buy some puts today, for downside protection on a stock I'm going to re-enter, but I may re-enter it via writing puts rather than going long. MU closed down today, but I wonder if it's going back near 20.

To: Thean who wrote (1240)	7/21/1998 5:57:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 14427

sorry, we were closing on a deal. We just dumped off a lumber co onto some sucker that thinks the economy is going keep roaring forever...he's in for a shock. What can I say? Today was nice, but I don't think we've seen the top. We should get one last move to new highs before it is over. Those MSFT puts I bought last week sure do feel nice right now (G) Compare those charts again from '29 and today. It is SCARY how similar the topping formations are. Did you ever look? My broker said that some guy named Capiello was on CNBC saying that a rate hike by the Fed is all wrong because we are in uncharted territory here. He said: "we have no enemies, an abundance of goods......" Basically he described the conditions in 1929 to a "T" and the moron didn't even know it. The indexes should make one more move up, but this could be the top? Prepare your positions!! Also- after the bell DIS missed estimates and HWP vomitted up another earnings warning. Good grief this mkt is going to get UGLY!!! -Lucretius