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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile? -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (509)	4/17/1999 10:07:00 PM
From: divvie	Read Replies (1) \| Respond to of 1390

I was hoping for a triple or even a double. Friend and I were discussing our next moves . He has been a long time bear. He and I did well last Summer/Fall with CMB puts and NEM calls (wish I'd been in Citicorp puts though). Even though he still feels that the market has to correct in a large way soon, he has come round to thinking that you may as well not fight the trend. At least for short periods. So he figured that as Inut mania was still riding high, it was time for the Inut brokers to come into the spot light as they would benefit from the greatly increased trading volumes. I agreed and bought those calls little knowing that the established players would be producing such good earnings on the back of trading volume. I rode it a few days but did not get out at the top. I got out when I saw it slipping. Simply put a limit order in to split the spread. I think it hit a high of mid to late 40's that day, then closed at 19 and change bid. Tremendous amount of luck in the timing but there was reasoning behind it. Kudos to you for calling the top though. I thought it would have recovered but the call premiums were too high on the day it dropped, and then when it continued to slide I kept away. Thanks for the response and good luck in your trading.