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Strategies & Market Trends : Sharck Soup

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To: Wes Stevens who wrote (19131)4/27/2001 5:00:36 PM
From: fswep  Read Replies (1) of 37746
 
Wes,

Ya, I got caught holding the bag on SP puts because I couldn't get the sale through last Wed. and Thurs. So I put one through Friday (20th) and was told that they were untradeable (expired).

I don't know if was their fault or the AMEX who wrote the options. Anyway I actually have to take the responsibility, because I got greedy. I was always selling too early and my data pointed to a retrace down. I did not figure that Greenspud would cut on a rally. Suppose that goes along with if it works don't change it. Take the 50% gains and be happy. Because now all my marbles are gone, again.

What irritates me the most is that the Fed called all the houses and left a watch out sound. Well, that's what it is all about. Don't trust anything that comes out of the market. We all have our own agenda.

We will see next week if Greenspan's gamble works. I will be very careful next week on the long side.

Datek has problems, but suppose that unless I want to pay the price for a direct connection, they are about as good as I can get. I just have to trade accordingly, I got pretty good at being a defensive trader were I was trading before.

Ward
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