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Hello RealTradersList,
I want to get long the SP here going into Y2K, so soon this week I am
going to get long the SP prior to Y2K thinking that the non event will
cause a run strait up afterward.
However I'm not stupid and so I have figured that maybe I should go
short now first the futures and sell a put against my short position.
Then thinking that the markets explode slower up than down I will
maybe place a buy stop above our recent high to force me into a long
position which is what I wanted to do in the first place. When that
happens I'll take the loss on the future hold the put to expiration
and then when I flip the short future to a long position I'll sell a
call against my now long future position.
Or I could just buy an in the money future option and sell an out of
the money call. Placing then a sell stop, which should probably be 20
points above where I actually want to be filled. That way I'll loose
the money on the purchased call, collect the short call premium on
the call I sold. Then be short the future, which I will sell a put
against somewhere in the free fall of the Y2K dilemma.
I generally hate to buy calls or puts and in my entire career Ii have
never bought a call or put of any kind on any commodity. I have chosen
only to sell them, but I may give it a shot this time.
I may just say screw it no guts no glory and just buy the SP futures
and be done with it. Preparing myself for a 13+ percent stop loss I
would be willing to take. Which would be around the mid 1200 level.
Bright Ideas? I'm all ears and running out of time. Mark
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.o©º°¨¨°º©[ WWW.MARKBROWN.COM ]©º°¨¨°º©o.
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