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To: Kenneth M. Koff, CPCU who wrote (1185)	5/17/1999 9:44:00 PM
From: HoodBuilder	Read Replies (2) \| Respond to of 1229

The purpose of my "write" was to hedge a portion of my holdings. Of course I'll be upset if the IBM news really does get announced and the stock moves much higher, however, I can always roll up and out and there will probably be Sell the news reaction anyway. Time will tell. If we get a pullback I may close 1/2 the calls and make a profit only to re-write when we move higher. I'm a P&F technician and I feel as though the stock needs to print $12.50 on a pullback before we go much higher. This would be a 3 box reversal after a high pole and would be a good base.