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To: j g cordes who wrote (923)	1/12/1999 12:56:00 AM
From: Jules B. Garfunkel	Read Replies (3) \| Respond to of 990

Jim, OT Glad your making money on IBM. At least one of us is. Playing IBM short term Puts is a good strategy. In retrospect I wish I had done more of the same, although, I have been day trading IBM lately. My mistake on IBM was being away from the market on two key days. On both of these days I was traveling and would have covered if I had been watching. The first was when IBM moved up 12 points in two days after what I thought were poor earnings in 2Q of 97. The second time was when Greenspan put together the consortium to bail out Long Term Capital Inc. Only the Brokerage Firms knew about it, and the average investor was kept in the dark until 3 or 4 weeks after. That was September 1, 1998, (the turning point for the Market), when after coming within 1/2 point of my order to buy to cover, the market turned around and ended up very big by the end of the day. BTW, I also bought the Oils three weeks ago when someone on CNBC pointed out that a barrel of Perier(sp) Water cost more than a barrel of oil. Jules