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Strategies & Market Trends : Tech Stock Options

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To: Kevin who wrote (30108)12/3/1997 1:22:00 PM
From: Barbara Barry  Read Replies (1) of 58727
 
Kevin,
Sorry about the trade. I was curious as to why you bought calls?
Yesterday, I bought some oex 440 Dec. puts for 2 1/2. No ugly indicators on my charts. This time it is just a "hunch". The chart looks very similar to the pattern starting late Sept. to the big jump in Oct. BUT, this huge rise has occured even faster; volume has been decreasing; AND, there is more bad news out there than there has been
all year, not to mention some tax loss selling since many stocks have not recovered from Oct. BWDIK! I am not predicting a mini crash,just hoping some further volatility will let me make a small profit over the next few days.
I know a TA person doesn't listen to the "noise" but this time I thought I would try to play my "hunch". I only bought 5 contracts so you can see that I am not willing to bet much on this...yet!<GG>
Regards,
Barbara
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