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We are getting a very extreme reading on the VIX today. I thought I would
have a chance to go long oex calls with the mkt trying to reverse this
morning. The oex never hit my entry target price. I missed this short
opportunity by anticipating my indicators. I am standing aside for now.
The premium levels are to high unless you are willing to do credit
spreads. My recalculated target for buying oex calls is 887.30. It
looks like the nasdaq will go to zero before we see a decent bounce.
Ron McEwan
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