Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Jack of All Trades who wrote (43513)	9/18/1999 10:46:00 AM
From: Lee Lichterman III	Read Replies (2) of 94695

Well I am not sure of anything right now. My daily charts are pointing up for at least a few days and my weekly charts are showing down. Unfortunately the weekly charts are not great for timing but are more a look ahead as to what to expect downthe road. We could rally for a while or go flat in a relative sense as Don's trading range continues. I personally wouldn't buy puts yet since premium erosion is fast and if the cycles point up for a while, why not buy cheaper and later? Favors is looking for the rally to last over a week. If you really want to buy, I would at least wait for 715. I doubt that resistance line at 710 will hold. My first faint fork resistance doesn't come in until 715 and if we get Heinz's blowoff, 735 is very likely. Good Luck, Lee

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