I have always stated that I will remain bullish so long as Pnra's story remains intact. I have not changed my view. The only thing that has happened is that a legitimate question has been raised as to whether something has changed, i.e, the assumption that Pnra will earn at least .99 this year from operations. If I were to find out that the .99 includes significant mortality proceeds, my view would change. If the .99 is real, I remain bullish, though I would still expect a pull-back short term to the low thirties, simply due to rotation, no expected near-term surprises and valuation not cheap (though hardly outrageous given the expected growth). After first quarter results are announced, I expect Pnra to start rising again and to significantly outperform the indices for the year. Again, this assumes that there are .99 of real operating earnings this year. I have written the Feb 30 calls against all of my holdings.