Okay, let’s see FAZ try to hurt us, now that we’ve acquired four October 10 calls (FAYJB) for 1.20. These pups will require little tending in the weeks ahead, but I may call on you at some point to acquire some call options in another vehicle, the better to effect a strangle-type hedge.  Thereafter, with a few bucks down on the pass line, we’ll be better able to summon the proper enthusiasm when rallies happen, as they always will.   This was a strategy I employed on the options floor in the late 1980s, when I was absolutely certain the bank stocks were about to collapse.  They didn’t — far from it, actually — and I lost a small fortune on the thousands of put options I held. But I made it all back and much more by being very long drug stocks, including Schering Plough in its heyday.  Remember: We want to come out ahead no matter what happens, and we want to have fun while we’re doing it.