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Strategies & Market Trends : ahhaha's ahs

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To: gpowell who wrote (157)	10/6/2000 2:47:42 PM
From: ahhaha	Read Replies (2) of 24758

If we get a good blaster plunge in the NAZ of say down several hundred points, exercising puts is the ideal thing to do. You exercise and sell into the down draft which is favorable for selling. Then you immediately buy or overbuy. This is the same as cover and buy into weakness. COX can't do this because the "put" is not a contract that is exchange originated. It was just an insurance vehicle, but it is exercisable. However, the MSOs can't afford to lose their interest in ATHM. As I write this we are sitting on the neckline of the NAZ log chart formed from drawing a line from Aug '98 through Oct '99. It is reasonable to assume that this level will hold and a rally will take us back up to NAZ 4000 by the end of the year where the major down trend lies. Then we may have a triple right shoulder. According to the soothsayers that's horrible. That could be where the real buster starts. A plunge of several hundred points has to immediately reverse or it threatens a visit to 2500 where various longer term uptrends congregate. The negative thing is that there is absolutely no give-up in the market yet. Prices just march downward and CNBC just talks through it. A few of them are getting somber though.

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