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Wow,
You want to talk about a setup for a slam. This time last year (almost
to the day) I bought the March SnP 500 puts (SPZOT) at the time they
were 3/8 $37.50 each!! and I believe the SnP index was at about 900.
So I bought puts 400 points out of the money witht 7 months to go for
under $50 a piece. When the market sold off (record down day) on Oct.,
27, 1997 I sold the puts for 2 3/8.
Reality Check: It is one year later. The same puts
SPZOT ARE NOW THE 700'S They are once again about 400 points out of
the money and some lucky soul bought 250 of them on Friday at 10!!!
That's $250,000!!
If this huge premium doesn't tell you the market is going down
big-time........
Regards,
Gary
---khanitha <charlie@xxxxxxxxxx> wrote:
>
>
>
> ----------
> > From: khanitha <charlie@xxxxxxxxxx>
> > To: JER3CUBE@xxxxxxx; RealTraders Discussion Group
> <realtraders@xxxxxxxxxxxxxx>
> > Subject: sell the rumor, buy the fact: Clinton
> > Date: Sunday, August 16, 1998 9:42 PM
> >
> > Hey Rt's.
> >
> > Here's a common cents($) observation. We have been heading down
over the
> > last few weeks in the oex/spz, etc. Well, doesn't this remind
you of a
> > classic common cents($) set-up: We are about 1000 lower on the
globex,
> > 10pm hawaii,
> > 4 a.m. east coast. So we open lower, and panic selling:
BEAUTIFUL, i'll
> > be buying oex calls shortly after the open, wouldn't it be
beautiful if
> we
> > get down to the 200 day ma, around 505 then reverse straight up
for the
> > next few days!!!
> > i'm putting my money where my mouth is, i'll talk to you all in a
few
> days!
> > reply to all comments welcome......
> > gary
> > hawaii
> >
> > ----------
> > > From: JER3CUBE@xxxxxxx
> > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > > Subject: Re: Market bottoms
> > > Date: Sunday, August 16, 1998 3:00 AM
> > >
> > > In a message dated 8/15/98 8:49:50 PM Eastern Daylight Time,
Remotest
> > writes:
> > >
> > > <<
> > >
> > > I see what you are doing. Thanks. Raleigh >>
> > > See this weeks Barron's Market Watch column. Prechter is doing
the
> same
> > > thing. Calling for an Aug 17th low (MONDAY) 31 days from the
high, and
> > > a rally into AUGUST 24...maybe 28, then HARD DOWN.
> > >
> > > He relates the count to being identical with 1929. Why Not? It
> probably
> > > relates to counts in between. We have a habit of focussing on
'29.
> > > Isn't it strange that we should do that?
> > >
> > > GerryB/jer33:3/eccl 1:9
>
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