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Cashing in and remaining flat. You buy options when things are relatively
quiet and sell into momentum where the premiums are jacked up do to order
flow, i.e. supply and demand, and volatility is peaking as read by the VIX.
Will reassess things after the close. Don't want to OVERTRADE.
BobR
At 01:01 PM 10/23/97 -0500, Mark Moline wrote:
>I AM GOING TO GO OUT ON A LIMB HERE AND SAY THAT WE HAVE SEEN THE LOWS
>OF THE DAY. I SEE SUPPORT AT THE 50 DAY MA IN THE 941 AREA, WE CAME
>PRETTY CLOSE TO THAT. I WOULD NOT WANT TO BE HOLDING SHORTS, AS MOST OF
>THE BLOODLETTING SEEMED TO HAVE HAPPENED IMMEDIATELY ON THE OPEN. IF
>YOU GUYS WITH REAL-TIME QUOTES WILL NOTICE, WE ARE WELL OFF THE LOWS FOR
>MOST STOCKS. THOSE SHORTING AT THE OPEN PROBABLY GOT HURT IN MOST
>INSTANCES, OR PULLED OUT A MINISCULE GAIN, NOT WORTH THE RISK. I AM
>HOLDING LONGS.
>
>ARE YOU CASHING IN THE PUTS AND REVERSING, OR REMAINING FLAT?
>
>ANY FEEDBACK IS APPRECIATED, AND OF COURSE MY INTUITION WITH THIS MOVE
>COULD BE WRONG!
>
>REGARDS.
>
>MARK :-)
>
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