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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (21908)8/10/1999 9:48:00 PM
From: Electric  Read Replies (2) of 42787
 
dennis,

I agree with you about selling the open. Along with the suspect closes the last while, I also have noticed that other than one day the market cannot sustain an up rally if it is strong in the AM. I saw this AM the futures were down 7, they recovered in 30 min and opened barely down, then we saw what happened during the rest of the day. I think the nets are ripe for a drop if they pop in the AM. I would love to put the .dot but the premium is about 20% in between bid and ask. I dont think there is any reason near term for the nets to go up, AOL looks very very poor, 60 we may see.

So Chuck sees a move into the 18th and then a drop into expiration eh? That might be a smart play for puts, by the 18th August puts are nearly free from premium and one might be able to pick up an at the money put for less than 10..... I like the sound of that, somthing just isnt convincing me that we can go up. There has to be a catalyst and frankly I dont see one. Bonds? They cant rally, foreign indicies? They are the tail of the dow dog..

I am willing to put my $$$ on the line that fridays numbers are very very bad for the market. Tomorrow I hope for a 5-10 point S&P drop as so I can exit my puts for a buck or so and buy a speculative put on Thu on any rally. I just dont think there is any reason for a big move up.
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