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To: Berney who wrote (3914)	9/14/1998 3:11:00 AM
From: James C. Mc Gowan	Read Replies (1) \| Respond to of 11051

Gonzo: re: SPX long straddle Enjoy your TA posts; do you pick the target for the long straddle,as each trading day starts, e.g. Friday close of SPX at 1009, and add maybe 5-6 points for strongish opening Monday or whatever, and buy in at 1015 with equal amounts of puts and calls at that strike price? Do I understand this strategy correctly? Also, what has been your holding period in this very volatile market condition? Any thoughts on picking a sell target on the straddle trade? Thanks for any help you can provide. vocex

To: Berney who wrote (3914)	9/14/1998 8:17:00 AM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 11051

Berney; RE:" Retail and Drugz " >Let's look at them: SGP current PE 43.8, historical average 20.2, projected growth rate 15.2; WMT current PE 34.6, historical average 23.9, projected growth rate 13.6; WLA current PE 61.8, historical average 24.3, and projected growth rate 23.2. I just don't see how a buy and hold investor can make money long-term with these ratios. Well that's not encouraging, from a F/A perspective; not at all. >I would suggest considering those stocks in the Big Boyz that are selling below their historic average PE ratio and their projected growth rate. The short list: CAT, CMB, MWD, SLB, S, and TRV. hmmm... CMB, MWD and CCI/TRV I have been accumulating this sector down here, as you know, based upon our mutual F/A perspective; ie., we're not going anywhere without our banks. SLB/HAL, well - what can one say ? CAT ? I got burned on DE this year... yeah, I see the F/A, but (!) S ? don't like its T/A (whereas I do like the way WMT/WAG move) You don't mention KO, which surprises me a little, Berney -? -Steve