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

To: Denice who wrote (44193)	1/21/1999 1:14:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Denice, I've been a fundamental bear since just before pc sales hit the wall and the capacity in semis passed demand in 1995. But as far as the puts go, I was in my lightest position in 3 years while stocks were in the mid 7000s this summer/fall. I mentioned that here many times as many were hot to trot to buy more puts. I am much more comfortable buying puts at tops than after a decline. Of course, another reason my put positions were so light at that intermediate bottom was that I had taken huge profits out of puts I'd bought earlier when the prices were nearly as ridiculous as they are today. MB