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To: John O'Neill who wrote (67970)	11/5/1998 11:04:00 PM
From: Elmer	Read Replies (1) \| Respond to of 186894

Re: "Again these positions are a HEDGE against a severe market correction" They look like a bet on a correction to me. A put would be a hedge. Buying a put would offer protection against a market drop while still limiting your exposure to the cost of the put. Now your exposure is unlimited. You call that a hedge? EP

To: John O'Neill who wrote (67970)	11/6/1998 12:40:00 AM
From: Paul Engel	Respond to of 186894

Oneill - Re: " Today I shorted 500 INTC at $94 intraday. " Good ! Add that to your Dell shorts at $60 13/16 - or are you going to continue to DENY that short ? Paul

To: John O'Neill who wrote (67970)	11/6/1998 12:46:00 AM
From: Paul Engel	Read Replies (1) \| Respond to of 186894

Oneill - Re: "Today I shorted 500 INTC at $94 intraday. " Add that to your $75 January 2000 PUTS. As I see it, you bought these for about $8 5/8 and now they are only worth $5 1/4. Down $3 1/2 per share on that brilliant move, John Boy ! You are a true magician, JO. You can make money disappear. Paul