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There's also a song by triumph called "fight the good fight". I know i am
supposed to respond directly to the sender according to the rules or i will
be kicked off, but, i feel this is relevent. Basically, It looks GREAT for
the shorts STILL, it has NOTHING to do with the fact that i am up a litte
money....
gary
hawaii
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> From: Earl Adamy <eadamy@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: OEX, market update..."Price Action"...
> Date: Saturday, August 29, 1998 2:21 PM
>
> While the short and intermediate term technicals are indeed quite
negative,
> almost anything positive could turn this market into a buyer's feeding
frenzy as
> buckets of cash come out of hibernation. Should this occur, I would not
want to
> be standing in shorts in front of the train. A convincing turn could run
the Dow
> up 500-700 points in a single day, perhaps even a morning. Needless to
say, put
> premiums would collapse.
>
> There's an old Kenny Rogers song with good advice: never to count your
winnings
> while you're still sitting at the table.
>
> Earl
>
> -----Original Message-----
> From: khanitha <charlie@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Saturday, August 29, 1998 3:41 PM
> Subject: OEX, market update..."Price Action"...
>
>
> >Hi rt's,
> >
> >WOW, wasn't friday's "price action" great for the shorts! the
dow,spz,ndq
> >all up about 1% in the first few minutes, then immediately gave up,
> >reversed, went NEGATIVE, then could never get back above unch. on the
> >dow!!! Chalk up another great picture for the short term and long term
> >bears for that matter. I really feel friday's price action really told
the
> >tale and finally tipped the scale in favor of the bears. Boy, i'm gald
i
> >bought those oex puts (anticipated the anticipated anticipation). the
> >515's are finally a little in the money. (i had comments to me about
how
> >the oex went in my favor but the price went down ----> who cares! I
paid a
> >big premium "7" two weeks ago, i knew that going in. But because my
target
> >is atleast 455-445 that will still be 60-70 in the money.)
> >I am/was thinking of taking profits by monday, now i feel it will be
this
> >week, but, based on the fear factor feeding on itself, we may see a
bigger
> >% drop throughout this coming week then we did last week! (BELOW the 200
> >ma, etc, etc, etc, oh, mutual fund inflows down, redemptions
> >up,.........panic will feed on itself this week combined with the
> >technicals........)
> >remember the $2,600 i started with.......
> >then in a week or so i will be buying some calls with a SMALL % of these
> >upcoming profits (for the brief wave 4)THEN loading up on MANY oct puts
for
> >"October" while the sep's are STILL on the boards....(similar to last
> >months purchase, do you follow?)
> >I'll spell it out to everyone BEFORE i do it, JUST like i did last
time....
> >"NOT hindsight"
> >comments welcome...
> >gary
> >hawaii
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