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Technology Stocks : INTEL TRADER
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To: smolejv@gmx.net who wrote (8447)5/30/2000 1:26:00 PM
From: John Harton  Read Replies (2) of 11051
 
DJ Re: "What are you gonna do?"

I may play golf Thursday, but if it rains I won't.<g>

I know playing both sides seems indecisive and isn't a buy/sell/hold choice. But basically I am betting on gale force winds from north or south and risking both sides should we be becalmed.

Right now I still hold the straddle looking to exit the calls @QQQ ~85. We are now testing 82 (3280 NDX) for the third time and may possibly break through. I'm expecting that we will see a few "whipsaws" in the next two weeks so that I may profit on the puts as well. Found the INDU chart last week to have gotten very ugly and with the bright spots being defensive( drugs, food&bev, utilities) I don't see a happy summer for the big boys. Because of that concern, I have trimmed to ~50% cash and another ~25% in defensive stocks, with some Jan 02 leaps to play the longterm longside in tech.

I'm always happy to poll both girls and boys on this and other threads to see what they are thinking.(^_^)

Regarding the data jungle of yesterday I have put BEL, CI and SO on radar for possible long plays as soon as the weather picture becomes clearer.

This is only my second attempt at a straddle, so its only a small play(all my plays would be small to you guys I suspect <g>). The first time I tried a straddle was INTC. After buying the puts on a "pop", I waited for a downturn to enter the calls but it turned south so sharply I took profit on the puts instead. So I guess I like to attempt to forcast the weather but will settle for what it gives me.

Will post when I exit the calls or puts. If I don't post, well then another lesson learned (ng).

Hope I understood your question.

John
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