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To: Dennis J. who wrote (4910)	11/1/1998 10:26:00 AM
From: ron peterson	Read Replies (1) \| Respond to of 14427

Dennis, In my opinion you probably couldn't go wrong with doing both the puts not on gold and the calls on gold. With the present market conditions I believe that it is a time to be extremely cautious. About presidental cycles, when in history have we had such a huge run up, the conditions to support such a run up are not present any longer, and the psych. of the people is "I better get my money in the market before the market goes up to 10,000." These are the people that didn't get in earlier in the bull move. These are the people that were to scared to get in then. Now they don't want to miss out. What do you think they'll do when they start losing their money? Bye-bye there won't be enough exits. Then your cycles have been broken and we chalk this up next to the great depression. At least this is what the market is saying right now.