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I am carrying long SP but looking for only a couple of more days. Both
NYSE and NASDAQ breadth models are on a buy, however the pattern of the
breakdown into the sell leads me to believe this rally will not last
long - another 30-50 points. It did recover nicely though from that
emergency fed meeting rumor which sparked the sell off. AGet is showing
an important time cluster on 8Feb for SP and ND and 7th for RL. Only
count which seems to work on the 60 minute is that this rally is a w.B.
Earl
----- Original Message -----
From: <Proffittak@xxxxxxx>
To: <eadamy@xxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, February 03, 2000 5:47 PM
Subject: Re: [RT] Re: Overnight disaster insurance?/bought it today!!
> In a message dated 2/3/00 11:15:27 AM Eastern Standard Time,
> eadamy@xxxxxxxxxx writes:
>
> << Hi Ben,
>
> Trying to get a feel for your option strategy by watching in real
time
> .. with SP at (rounding everything) 1425, Feb 1400 put at 15 and Mar
> 1525 call at 5 which would require a ratio of roughly 3 March calls
to
> cover cost of each February put. I believe you mentioned watching the
55
> day ema which is just a couple of points above 1425. I'm watching
last
> sale prices on the options rather than calling the pit for live b/a
but
> the prices should be close enough. Assuming you were looking to enter
> long, what would you be adjusting or would you write 3:1? Mar 1500
call
> is 8 and 1475 call is 12-14.
>
> Thank you. >>
> Hello
> perfect timing
> i have been long 1 ND from 2500 and 1 from 2550 (the 50 and 55
hours
> exp. m/a)
> and also was long 1 SP from 1380 and 1 from 1385 (the 50 and 55 hours
exp.
> m/a)
> but today i had buy stops into 1 more SP and 1 more ND (89 hours
exp.
> m/a) and 50 day and 55 day
> so now TODAY at the close i sold 16 mach 1520 and collected 1625
for
> each for a total of $26000
> and bought 8 feb 1400 at 2650 each cost $21200
>
> at this writing SP making new hi 1437.50
> but i am VERY Leary about tomorrow and happy i locked my profits
> tomorrow my be buy stopped into another nyfe??
> hope this helps
> Ben
>
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