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To: J. P. who wrote (36049)	4/23/1999 7:26:00 PM
From: accountclosed	Respond to of 86076

being long or short in the current environment is like walking a tight rope. I agree with you.

To: J. P. who wrote (36049)	4/23/1999 8:23:00 PM
From: gbh	Read Replies (3) \| Respond to of 86076

I guess my point is the longs in these 'gorilla' stocks will have to take profits at some point, or they're going to watch months of profits dry up in a hurry. JP, this happened last summer. But those who held through that correction were rewarded. This sensitized many investors to the brutality of a crash. The fact is, right now the liquidity is so great, and the environment for stocks so benign (interest rates, inflation, and yes, solid earnings), that any talk of a bear market is "fools talk". This could change with one statement from Big Al, but right now, the trend is up. Plenty of volatility, but up she goes. Gary

To: J. P. who wrote (36049)	4/24/1999 1:28:00 PM
From: yard_man	Respond to of 86076

Yes that did seem impossible -- I had Oct 70 and Oct 60 puts at the time and had written them off as worthless when Lucent went to 105 ... I was so scared when it started coming down that I took a triple on the Oct 70s as that was breached and then got a triple out of the Oct 60s which I never imagined would happen. But everyone knows October can never happen again, right?