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Strategies & Market Trends : Canadian Options
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To: Porter Davis who wrote (443)5/19/1997 4:24:00 PM
From: Jan Johnstone   of 1599
 
I dunno Porter:

"market lately has been doing its Otis Elevator test-centre imitation.....I think lower before higher is a pretty safe bet"

As all of us now know, it depends on the Fed response tommorrow. Many think a .25% hike is already facored in markets. Remember the Fed has a chance in July, if it doesn't do anything on May 20. Inflation is pretty benign, labor/factor markets are tightening, but wages/costs haven't really risen yet. I'm leaning towards the Fed waiting until July.

I was bearish a month ago, until the inflation numbers for April came out. I've had to turn my market options from a Calendar Bear Put spread to a Bull Put one, a little slower than I should have.

General question for anyone. In a rising market is it worth switching from a Bull Put Spread to a Bull Call Spread, or is the difference not worth it ??? I'm long on Sept PUTS on the market, and will make a definite bull/bear spread decision on what June PUT series I need to go short on, at 2:15 tommorrow.

Thanks

Jan
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