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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: put2rich who wrote (42831)	1/9/1999 2:06:00 PM
From: epicure	Respond to of 132070

This is an excellent site- if anyone here has ANY interest in oil stocks you need to bookmark this. osxstocks.com

To: put2rich who wrote (42831)	1/9/1999 2:14:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Sure--these are all for January of 2001. This may not be the smartest way to bet against the market, but I am doing this for two reasons: 1. I don't want to agonize over them for at least a year, at which time the decay of price towards expiring worthless will begin to accelerate, and I don't want to try to bet too precisely on when the market break will come. People who can call the market closer can make a great deal more money, but I know I can't do that. 2. If I do make money, I can actually get long-term capital gains treatment and can consider other possibilties as well. My January 2001 LEAPS are AMZN @ 76.625 and @ 133.3; YHOO @ 180; and INTC @ 120. When I bought each of these I was figuring on a strike price of about 66% of the current quote, but of course the AMZN and YHOO ran away from that. As they say in the warnings, you have to be prepared to lose all your investment. These puts represent a rather low percentage of the family net worth; I hope to see them representing a much higher percentage some time in the next 18 months. We learn a lot more from our mistakes than from our successes--at least I hope so, since I have't had much success in a long time so at least I hope I have learned some things. We'll see. Since this is gambling, not investment, what I am doing is more like playing red or black on the roulette wheel than playing a single number. I just happen to think that this particular roulette wheel is likely to come up red for a while.