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Pastimes : Home on the range where the buffalo roam
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To: Boplicity who wrote (3687)8/13/2000 11:36:21 PM
From: mishedlo  Read Replies (1) of 13572
 
That's what I finally learned about RMBS.
Patience. RMBS always give you another chance. gggg
That is why I think now is a good time to buy - it has been basing for a very very long time (RMBS standards anyway).
Conference coming up.
No news for a while.
And it is half its high.
Retracements on RMBS have been about 50% - that would put it 100 on the next move up. Perhaps higher on a good short squeeze.
Of course it could drop to 55 or hell 45 for that matter although I think the latter very very unlikely.
This of course leads us to risk/reward.
Upside 120 or higher - downside a fall to say 55 (equal chance). I like these odds any day!

If RMBS breaks 60 on the downside I sell my common but hold options and wait for resettle where I buy more options.
If RMBS rockets up I sell the next day.

Looks easy enough to me.
Hop on the BU$$ or wait until right after options expiry (but that is pushing your luck IMHO).

That is how I am playing this thing. Guess we will see.
Thoughts on this (hopefully well thought out strategy)?
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