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To: Rob S. who wrote (14750)	8/27/1998 12:19:00 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 164684

That's ok, Rob. The whitecoats will be there shortly.

To: Rob S. who wrote (14750)	8/27/1998 1:06:00 AM
From: Jan Crawley	Read Replies (2) \| Respond to of 164684

Rob, I believe this is how those characters in the World Bizzarro are making their moves ....They have been accumulating Sept puts in the past few days....they will drive the price down, take profit on puts, then buy calls, push the price up...all in the next two weeks..Therefore, I bought 3 Sept. 120 puts for $2 3/4 premium. Sold 1 Oct 145 calls for $13 Sold 1 Oct 150 calls for $9. Will take profits on the above when those characters taking their puts profit, then act accordingly... The large number of Oct puts are of a different story...I believe those were bought in anticipation of the sellers(3 million new shares)

To: Rob S. who wrote (14750)	8/27/1998 9:52:00 AM
From: Peter Church	Read Replies (2) \| Respond to of 164684

>>>The next few weeks will be the wind up and pitch and OCT-DEC will be the strike out.>>> Rob--I want to thank you for your enlightening comments and willingness to contribute your brilliant insights into this industry and generally Bizzarro World. It is strange to think that we may be witnessing the unraveling of one of the great bull markets from this perch on top of NZMA. It's a matter of time, but I believe the bears have the trend right here. It's just the short term chop that is killing me. Your comment above about OCT-DEC is very important from a timing standpoint and stock picking. Maybe there are better short term plays for the immediate decline. Certainly EGGS (down 70%) would have been a better short than NZMA (down 10%) a couple of months ago. I'm trying not to get fixated on NZMA, but it is hard to focus on too many things at once. I am also short Diamonds for the general decline. Are you ready to short LCOS? Thanks---Peter