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Strategies & Market Trends : The Rational Analyst
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To: ftth who wrote (1683)10/24/1999 1:00:00 AM
From: HeyRainier  Read Replies (1) of 1720
 
All right, here's a trade I initiated about an hour before Friday's close: I bought the November 80 puts on Chase Manhattan (CMB). My money's on the table, and for generally defensive purposes, I have made the assumption that my trade was wrong. There is no doubt about its overbought characteristics, but the movement would seem to be justified by the positive earnings release, coupled with the pending legislation to dismantle the Glass-Steagall Act. My mean-reversion target is for $76.

Any thoughts on the current trade, or anyone willing to put on the table some thoughts on the fundamental issues at hand?

Rainier
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