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To: ViperChick Secret Agent 006.9 who wrote (51087)	8/28/1998 8:41:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 58727

Oh how right Jim is!!! Remember that RIDICUOLOUS interview thursday with Druckenmiller?? He spoke so eloquently as Insana drooled: "buy the US large caps." The market rallied, and I didn't hit the send button on my OEWUGs because I am still an amateur. S@#T!! Well, the negative side happened today with those folks running the market down. This amateur sees a rally ewarly next week. The week after Labor Day, a crash. Cause that's what JF says. And he's been right.

To: ViperChick Secret Agent 006.9 who wrote (51087)	8/29/1998 3:52:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 58727

lisa, re for those buying puts.....be careful where you buy them.... look at the SPQUJ....1050 in the money puts...the action yesterday on the chart and today and then compare to the SPX being right in the direction doesnt always make you the corresponding money I noticed David's post on that very subject, and found it very good: --------- To: dale sinor (25500 ) From: David Plonk Saturday, Aug 29 1998 2:23AM ET Reply # of 25574 Dale, Vix is calculated utilizing BOTH Puts & Calls, near the money, OEX. The reason your puts closed down today was that options and futures both trade til 4:15pm EST. Thursday, the futures sold off hard between 4pm and 4:15pm. Option prices track the effect the futures price, or premium of futures to cash, will have on the cash. Thus, puts expanded in value at Thurday's close as the futures closed as 1036, and the cash closed at 1042. Friday's futures close was around 1032, very little improvement over Thursday. Plus, Fridays are notorious for option premium erosion in the last 30 minutes of trading. Add those two items together, and you see why your puts didn't appreciate on the day the cash SPX was 15 pts. lower. The real decline Friday, as it relates to your option price from Thursday's close, was only 4 S&P futures points, not enough to offset the preweekend premium erosion. The moral of the story is to try to dump options by 3pm Friday, and buy them back near the close if you want to retain the position. Regards, David ---------------

To: ViperChick Secret Agent 006.9 who wrote (51087)	8/29/1998 1:15:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (3) \| Respond to of 58727

Coug...(I couldnt post to you because I kept getting that stupid requested page not found) I dont know what to make of that article...first I thought it was a joke... then I went to barrons online..which is where the article is...and did a search to make sure it was there...and it is on Aug 26 then I thought it was tongue in cheek because I cant imagine ralph Ill MakeYouPoorer making that kind of quotable quote... so in the end...I dont know what to make of that article are they real quotes...or tongue in cheek...???? so if anyone has seen this show... "Breaking the Market Prognosticator's Code." let us know... To: +Gary R. Owens (25584 ) From: +William H Hueb Saturday, Aug 29 1998 1:14PM ET Reply # of 25599 Gary, I try to be my own devil's advocate in BOTH directions... keeps my options open that way! BTW, in one of my charts, I find it impossible to tell the difference between last week and the bottom of the Oct 27 sell-off. Interesting. Bill