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To: HG who wrote (17076)	1/6/1999 6:13:00 PM
From: Smart Investor	Read Replies (3) \| Respond to of 27307

Despite the fact that I stated many times on this thread, you never got it. I have not been hurt by YHOO in anyway because: (1) My position in YHOO is small (less than 10%). (2) I recycle my short position, that is I catch 5, 10, 40 (lucky) points and cover. Therefore, my basis keep moving up as YHOO's price moving up. (3) I will be rewarded greatly if it tanks, but I do not lose if it keeps going up as long as it consolidates after each climb. I covers my short position in each of those consolidate phase. (4) In summary, my strategy is to make small amount by recycle my shorts, and hope to catch the big one when it tanks. I feel this will be a better strategy in 1999 after the huge run-up in 1998.

To: HG who wrote (17076)	1/7/1999 9:23:00 AM
From: Chuck Molinary	Respond to of 27307

HG, I don't consider myself a daytrader (the Journal does). I would characterize myself more as a position trader looking for up to 5% swings. Sometimes they occur in 7 minutes <gggg>... I'll speak on behalf of SI when I say the thing that most people here seem to miss is that YHOO is not our only position. It is part of a portfolio. I am disappointed that YHOO is up double digits, but I'm thrilled to death about my positions in ORCL, COMS, AXP, etc. I'm making a killing on the long side - way more than I'm losing in YHOO. My expectation is that when the market decides its overpriced, YHOO is going to fall a lot farther and faster than my longs. On this thread I only discuss my opinion on YHOO which is that the stock is in for a sharp fall. Hope this helps Chuck