      Be careful, however. If CPQ is within a week of releasing earnings, Iwould recommend not taking any long positions. If you have $100,000 inmargined buying power and buy $50,000 worth of stock, you are highlyexposed in an undiversified position. If CPQ pre-releases poor earningswhile you are long the stock, you will be in big trouble. On the shortside, however, the downside risk is comparably less. If CPQ pre-releasesbetter-than-expected earnings, the price of the stock will not "crack" tothe upside. It may spike up a few points and continue higher, but a 30-percent to 50-percent immediate upside price move is quite unlikely. On theother hand, if CPQ pre-releases poor earnings, such a price move is highlyprobable. Therefore, it is safe to say that going long a volatile stockduring earnings season is far riskier than going short.