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To: Cory Gault who wrote (20927)	9/10/1998 1:14:00 PM
From: Charles Hughes	Read Replies (1) \| Respond to of 24154

>>> Come on...based on some of your recent posts you seem to be pretty in tune with the market. That recent drop in MSFT price wouldn't have anything to do with overall market conditions would it? Of course I didn't sell, my cost basis is too low, nasty tax hit. What do you own that has performed any better in the past few weeks...? Well, sure MSFT had something to do with the market. It has dropped more than the Dow in percentage terms, and my point was that many MSFT boosters promote this as a stable stock on the order of the biggest corporations, and I don't see it that way. I have been basically out of the market for 6 weeks or so. Which makes it easy for me to take the long view. Just wish I'd bought some index puts instead of blabbing here about market directions, but I was busy with a project and in no position to babysit a trading position like that minute to minute. Be very careful. Remember there are other questions about unfunded employee options and mandatory restructuring and so forth that will get more and more exposure as the trial and perhaps also the market slide continue. Sometimes it's better to cover, at least with options if you have a tax situation otherwise. Six month MSFT puts might be a good investment for those of us here with big exposures. It's fun to debate those on the other side, sometimes vitriolically, but we don't really wish you ill. Buy some insurance. Yours, Chaz