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Hear, Hear... I know I've ribbed Gary in the past... and several of the post
police drubbed his meandering and sometimes silly style... BUT, Gary called
this dead on, without, I may add OVERANALYZING! The simplicity of his trading
rhetoric is refreshing. (And, by the way, I find the little stories about the
OEX400 license plates kinda funny and interesting). Party on Gary. Have an
organic carrot juice for the RTs.
MR Associates International wrote:
> Great call Gary!
>
> Hope you're having a wild Luau tonite ... celebrating the anticipated with
> anticipation and now that the waterfall started let us know when to get out
> and dry out.
>
> Take care bra...
>
> Mike R
> -----Original Message-----
> From: khanitha <charlie@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Saturday, August 29, 1998 2:41 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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