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To: John Harton who wrote (4755)	12/4/1998 1:06:00 PM
From: John Harton	Respond to of 11051

DJ RE: Bermudian Reptiles Have you ever been to Bermuda? If not, it is a truly wonderful destination. One of the great advantages of dining al fresco in Bermuda, besides the gorgeous views of rocky coves and pristine water, is the remarkable lack of insects to disturb your dining experience. This is due to the huge population of birds, lizards and tree frogs that cover the island. One extraordinary event occurs at darkness when the tree frogs' "song" envelopes the whole island in beautiful tingling sounds (something like a cross between wind chimes and marimbas). Yes thats the ticket!.....frogs ...beautiful creatures actually. 12-3 Sold formerly ugly toads ANQAH @5 5/8 bot @6 whew!! A little better intraday timing would have brought a profit, but alas, happy to be out :). -John PS Updated scores (12-4) for internut Jan99 put candidates YHOO 5.61 AOL 5.29 AMZN 4.10 LCOS 3.50 XCIT 3.11 SEEK 3.00 CDNW 2.13* ONSL 1.87* *Low scores for bottom 2 reflect their recent pain.

To: John Harton who wrote (4755)	12/5/1998 1:37:00 PM
From: Chris	Respond to of 11051

John, RE: LEAPS In short, I LEAP for leverage on the long side only. I have never shorted a stock and have only bought puts once. LEAPS have a great advantage to margin buying (IMHO) and that is I won't ever get a margin call. Buying on margin has been risky for me and I've taken a few hits on the big dips in the past. In general I focus on Tech stock LEAPS because I know a bit about technology and as a group they can move quite a bit in 6-18 months. Right now I'm easing my way to cash so I am only holding 1/00 LEAPS (CPQ,SEG,PFE,CSCO). I agree with your time diversification scheme but I've yet to implement it myself. Last Oct would have been great but I had no cash :( (another lesson for me) This is really the first year that I've played with options/LEAPS and my goal is a 'profitable education'. LEAPS have been quite good for me so far, and I've been burned badly bay a number of short term options plays which has eaten away a big chunk of profits. Friday trade: sold 2 LU 1/00 80 calls @25 (bought@ 12 3/8) Always happy to share and learn more about LEAPS. Christopher