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Pastimes : Prudent Bear Fund (BEARX): contrarian investing -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (405)	10/15/1998 4:13:00 PM
From: James C. Mc Gowan	Read Replies (1) \| Respond to of 793

Tommaso : did you post this before or after the Fed Rate Cut announcement; I picked up some puts for November on OEX at the day lows, just after the announcement; tomorrow's options expiry should be very interesting. Thought of adding to BEARX at close today but was busy with options trades. We'll see. P.S: to me, this Fed move is a clear indication of the severity of the hedge fund liquidity problem; read on Princeton Economics that one hedge fund had a 30000 contract position in S+P futures to sell; guess the Fed move gave them a better sell off price today. I am not too happy about the Fed manipulations of the stock market with adding heavy liquidity and this lightning rate cut move.Seems like the Fed is now playing the market. Best to you. vocex