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Strategies & Market Trends : Tech Stock Options
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To: Electric who wrote (40540)4/21/1998 12:36:00 PM
From: Patrick Slevin  Read Replies (3) of 58727
 
I tried to respond at about 10 ET but my connection went kerflooey.

Anyway, suspecting a problem I saved the response on a WP and it follows. I went flat and once the spoos broke through 1131 I went long, selling half for a 2 point gain and another 25% for 6 points

My logic was that Breakouts would occur at either 1131 or 1125. The 1131 suggested to me an assault on the old S&P Futures high at 1140 plus.

Anyway, I tripled up on the balance a little below where the market is now. If we get some repeated move to the upside I shall put a major dent in Friday's loss. I am in a much better mood, now.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I'm not much of a stock jockey.

I am short GE calls and have a few positions but for the most part I pay little attention any more. It's easier, from my point of view, to just bet long or short on the S&Ps and get in and get out. Some days you make one or two thousand, some days you lose one or two thousand. I just try to win more often.

Today I decided to go short, as the opening rally was so quick it seemed like that was the place. But I think the market will come back. The question is whether it snaps back in the next half hour or late in the day.

EDIT . SI is real busy. I have been trying to post this for about 10 minutes. I would not be surprised if I was flat by the time it posts.
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