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To: Ray Rueb who wrote (3145)	8/2/1998 12:38:00 PM
From: Tim Smith	Read Replies (1) \| Respond to of 10081

Ray I must commend you on being so frank and honest with everyone. I think you owe it to everyone on the board as they are about to lose their shirts. I saw my portfolio get cut in half and have been distraught over the weekend. Sorry I had to be one of the doom sayers but I have been through this before on hype and you need to cut the losses while you still have some cash. I would not recommend touching this stock unless it was around 3 and that would only be to try and get a spike to 4 before it heads back to where it came from. Thats not worth the gamble to me. I am by far not an expert but I can smell a dead fish when I see one. Just glad I was able to fish the Sea Otter out before I lost everything I had. Good luck remember I only got 7 9/16 for mine and paid 14 11/16 Tim

To: Ray Rueb who wrote (3145)	8/2/1998 12:41:00 PM
From: jk	Respond to of 10081

Just a lurker here, But aren't margin calls due after 48 hours of the loss, thanks i hope i'm wrong, reading the recent post over the week end i'd have to say it looks like more shorting to bring this down to at least $6 in the next few days , good luck to everyone . I'm neither long or short at this time, just went to the cleaners in EGGS, expecting a margin call myself,JK

To: Ray Rueb who wrote (3145)	8/2/1998 1:15:00 PM
From: Jane Hafker	Respond to of 10081

O.K., Ray, time for my overdue question to you and if slimey sand sharks appear I can assure you it will be a bloody mess before it's over. I guess I am just a little short on rude creeps. WHEN GMGC went to options, what did you see? An immediate drop. I'm sitting here thinking, sure, of course, that's what's happening. Profit taking now, banking it, going to quaduple that sum on the option in November. Remember, don't jump me if this is all wrong. I don't do anything but buy and sell, and these days not doing it very well. It just seemed to me it was dangerous short term for anyone long, and really dangerous for anyone buying options in NOV in case Portico had any sort of setback. Was there any real danger to the option announcement/possible quick moves to Nov. options and pulling out cash. At this point it seems that Nov. options might be even more attractive and that could cause more problems. Just trying to understand options and any side effects. Also looking at the Mother of All Burns to date on this, and a permanent position in a good solid fund, period.

To: Ray Rueb who wrote (3145)	8/2/1998 2:15:00 PM
From: trust200	Read Replies (1) \| Respond to of 10081

Ray, appreciate your honesty. My experience has been similar. Similar size. Similar entry position. Similar averag cost. Only stock I own. Etc. Let me tell you what I did and will do. I liquidated 50% of my position at 8.5. And will get back in when the stock rises again. OK, lost a few points here. But that doesn't matter. This stock is heading for a market cap of $1bn plus. I will hold on to half of my position no matter what. Also, it is easy to panic. But Nasdaq is full of companies that lost 1/3 because of something. Somebody mentioned that YAHOO lost half of its value last year. After that it went up five-fold. Everybody here must have done the earnings projections as a function of subscribers. We all know that if we get within a time frame of 6-9 months to 100'000 subscribers that this stock will be the best investment of your life. However, at this point of panic, I guess such calculations don't help while people are staring into the abyss. Maybe the best approach at this juncture is to put yourself in the mind of a short. Would you like to be short a stock at 8 where earnings are picking up ? Your upside is another 3 points or so. Your down-side naturally much more. So unless they are too greedy, like we all were at 15, most of the smart shorts will cover soon. If that happens, were will the sellers be to fill in 3-4 million shares? It won't be me.