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To: Lee who wrote (85681)	12/16/1998 1:50:00 PM
From: jbn3	Read Replies (1) \| Respond to of 176387

re Covered Call position Hi Lee, Decided, in light of the excellent responses I received from you and Chuz, to elaborate a little bit about my covered call positions. Since I believe market performance short term will be flat to negative, I have sold at-the-money or just-out-of-the-money short-term covered calls. I am not panicking or expecting a serious meltdown so did not sell deep-in-the-money calls as I did in August. (In my IRA I even exercised some RMBS LEAPs I held in order to sell covered calls on them.) DELLish, 3.

To: Lee who wrote (85681)	12/16/1998 2:41:00 PM
From: Chuzzlewit	Respond to of 176387

Lee, one thing needs to be considered carefully about the unemployment rate. It only counts people who are actively looking for work. There may be many who, for one reason or another have become marginalized and have given up hope. I personally know several highly educated individuals who fall in that category. Just as metrics for inflation are suspect because of the content of the basket of goods and services, so too ought the methodology for estimating unemployment be viewed with skepticism. TTFN, CTC