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To: Dale Baker who wrote (1702)	11/8/1998 8:53:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

Short positions: only four open right now, all underwater a bit: CCSI – ran up on news that an anonymous company somewhere would manufacture their device. No proof anyone will actually want to buy it, so I am staying short from 5. MCAR – pulling back steadily after the small cap runup. REXI – stop in at 10 in case it runs with the other financials, but it seems to be running out of steam. TERA – jumped on Friday on no news. I may look to double up hear unless they come out with any substantive news. As I noted earlier, I closed my PVN short at a substantial loss but not as bad as it would have been had I not covered. Thinking about shorting ATEN again plus WEBB, APM and RMOC as new positions. Depends largely if the market keeps trending up or pulls back this week. Options – Call Positions ABX – holding Jan 25 calls as a hedge against another market pullback. Slightly ahead in these since last week. BKS – Jan 40 calls now doing well since BKS announced the purchase of Ingram Group. I bought BKS calls based on their Web site spinoff plans, which were delayed by the Bertelsmann investment news. I think BKS will keep doing enough right to move these calls up further. CDG – the Feb 40 calls which I gave up for dead are coming back to life with the oil sector. Worth hanging onto for now. Don't forget that CDG is being bought by FLC at a ratio of 1.7 FLC for every CDG share. Not sure when the deal will close. IDTC – March 30 calls are my new shining star since I loaded up at an average cost of 1 ½. Earnings due out Nov. 18 and IDTC likely to run to mid-20's. I have a sell order in for the calls at 4 ½. LOR – January 2000 25 calls now more than 50% ahead at 3 1/8. Plan to hold for a lot more with the time premium I bought here. PAIR – bought Nov 12.5 calls in case they were bought out. Small amount at stake if they expire worthless. TLAB – as I mentioned in an earlier post, I am selling my March 55 calls since they have more than doubled. TLAB could go on to fill the next chart gap at $70, but I'm not sure it will make it before the time premium gets stripped out of these calls. And I need the cash for another play which I will open on Tuesday if the price is still what I want. Options – Put Positions AMZN – Jan 50's not worth much now but I will hold a while longer in case AMZN retreats on unexpected news. ENVY – Nov 22.5 just about worthless now. MU – Jan 30 puts cut in half since I bought, but I am relying on MU's volatility to get them back in the game. I don't think anyone really knows what MU is worth. Makes the guessing game interesting. SRCM – Jan 7.5 puts hurting in the recent runup, but plenty of time left. Last time I held SRCM puts I sold them way too soon for a small profit instead of a much larger profit. ZONA – rolled over my Nov puts for Feb 12.5's. ZONA ran with the other medical stocks last week so this may be a good time to double up. OK boys and girls, that's my view of the universe for now. Hope someone is still out there lurking to give me some feedback and new ideas.