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Strategies & Market Trends : The Options Box

QQQ 620.47

-0.6%

Jan 8 4:00 PM EST

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To: Poet who wrote (5051)	9/16/2000 2:29:32 PM
From: Jorj X Mckie	Read Replies (1) of 10876

Poet, That's the thing....I can't help. I have no idea how the market might react. A quick glance at the DJIA chart shows that in 88, 92 and 96, the general trend was up through the election. I just think that there is enough risk built into the market already, that wasn't there in earlier years, that the election could make the market realize some of that risk. My personal belief is that we will rally hard into the election and the decision to buy some puts with a short expiration will be pretty easy for me. The actual outcome of the election may have no real bearing, it may just be a "sell the news" environment. If the pharms do rally into the election, I will absolutely buy some OTM puts as a gamble play. If Gore wins, I think that the pharms get nailed hard. It might be interesting to gauge how the pharms and health care sector charts move compared to the polls....If Gore pulls ahead significantly, I would bet that you start seeing some big dips. By the time that we get to the election, you might be able to accurately call the outcome of the elections by where the pharms are positioned. JXM

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