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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

+0.9%

4:00 PM EST

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To: donald sew who wrote (22851)	8/12/1999 2:06:00 PM
From: Lee Lichterman III	Read Replies (3) of 99985

Just closed out OEX calls bout at 677 a few hours a go at 681 for an intra day trade. If 679 holds, I may go back and double dip again for the closing bounce. If 679 fails, then I will wait for the right shoulder bounce on the 6 minute bars and initiate puts. I missed the top but a scalp is a scalp. <g> I did a quick MAX pain calculation and it appears they want the OEX to close around 680 next Friday. Of course they will whipsaw it all over between now and then. I may not trade these depending on how long this takes. I need to go back to work soon but thought I would post what I am up to since I have been silent lately. I got a break from work and was tired of having to just watch all the time. I would prefer to trade the puts instead of the calls since the Bond just rocketed up in the last half hour. EDIT - 679 just broke so I will watch and wait for the bounce if there is one or else go back to work. Double EDIT <g> - Is there news causing this, a leak of tomorrow's PPI report or just MM games. Market got nasty quick, Good call LG. Good Luck, Lee

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