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Dick, you apparantly missed my total trade. I bought the puts at 18.25 on
Tuesday(posted on RT) and scaled out of them at 1/3 at 28 and 1/3 at 30 on
Thursday(posted on RT), and 1/3 at 35 on Friday. Posted position was to be
flat Friday morning. Enough gains were in hand to risk the last third on
Friday. Those sells you saw were to close the postions opened on Tuesday.
Ron and John both were short on Wednesday also.
BobR
At 11:41 PM 10/24/97 -0400, Dick byrd wrote:
>bobrabcd wrote:
>
>> Those who questioned the rational for selling puts (to close) Thursday
>> may
>> find out why this morning. Intraday and end of day the volatility
>> conditions favored selling puts and by the end of the day price,
>> volatility, breadth were all voting for a rebound from an extreme
>> oversold
>> condition. On the AMOSS chart the 90 day component has rebounded each
>> time
>> it dropped into the neutral zone 4.
>
>- - - - - - -BobR:
> Whew! -- Bad call. And usually you are quite good at the next
>day's prediction.
>I hope those puts you sold didn't hurt too much.
>
>We all miss, and beleive me I miss plenty of them. This time I was
>happy because I held my Puts until today (Fri). No positions over the
>weekend though; just too risky.
>
>So, What's going to happen Monday. I think it will be a critical day.
>The bottom could really drop out here.
>
>Dick
>
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