TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: majormember who wrote (10004)	7/6/1999 9:39:00 PM
From: JACK R. SMITH JR.	Read Replies (2) of 59879

Skane, Please give me your TA on these. HEC DEMP BTGC Interesting times for certain. I have an overwhelming urge to buck the trend here in the physical commodities. We are certainly in a time when extreme lows can be seen, but I see signs of a blow off bottom here. My gut it telling me one thing and the charts have yet to confirm. I am loath to call the bottoms, but I do know the signs of the time. I am inclined to take a long position in an large number of very out of the money call options here in many of these. Perhaps even a smaller number and then repeat the process with profits as the market moves my way. Certainly a powerful stragegy if what I thing will happen happens. If not, then I loose the position. As a caveat, I must add that many of these options are hugely overpriced here and understandibly so. My thought for the SP 500 is that I maintain my position for a retracement to first support near 1380 and second at 1365. Any significant move above todays high on close would negate that position --How is that for a disclaimer? When Trader is away, then the Mice can play, but we eagerly await his return!! Jack

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