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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (28062)	8/11/1999 2:23:00 AM
From: IQBAL LATIF	Read Replies (1) of 50167

A autopsy of a days post..First early in the session established a point to go short that was 1297, I also highlighted that below 1297 they will test a low below 1293... Monday, Aug 9 1999 2:06PM ET Reply # of 28073 <<I love to see some volatility, I perfectly see that the best bet considering market bearish sentiment would be to go long 1250 puts for Sept each put protects you for 250,000 $ and will cost you may be 15-16$ if you have a total core of 100,000$ (g)portfolio this one put is more than adequate for that big fall if it ever comes, however a turnaround will diminish the premium of that put but will increase the size of the core. It is simple strategy but to come to market where you need to be invested all the time you can rarely run with huge cash positions you just don't get any returns. I am lot of cash but since I do options out of the money I have luxury of leverage, if it moves up I am happy as I have advantage of out of money cheap calls if it breaks by Sept I have these long 1250's and in betwen below 1297 I will play more on down side.>> Next defined my outside limits of this break below 1297.. Tuesday, Aug 10 1999 3:07AM ET Reply # of 28073 AT//... Look at this S&P chart and notice this concentration of tests at 1290 area.. if we break this we can on inter day basis our next objective would be 1250 and next 1230 that is it where the selling will dry off Rallying from lows.... Yesterday as market tumbled and NDX PSE and SOX remained bid I wrote..early in the session.. Tuesday, Aug 10 1999 10:43AM ET Reply # of 28072 Look at this .. quote.com WE are at 2485 on Comp and 1283 on SPX last time we were in early June on 1283 on SPU the Comp 2380.. a full 100 points below.. NDX was at 2000 and now it is 2158.. so the big core stocks and SOX are not selling until that does not break the big break will not come the SPU will rally from the lows of todays until NDX takes out 2150 area solid...

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