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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (86961)12/15/2000 6:17:12 PM
From: Tommaso  Read Replies (1) of 132070
 
Actually I unintentionally set up an experiment that proves you are right. As I mentioned the other day, just to be mean I shorted ten shares of QCOM, and at exactly the same time I bought a QCOM put for about the same amount (it probably wouldn't be your choice--it was a 2003). If I were still holding the short it would have made about 25%. The put is up more than 40% and climbing. Of course if I had bought out-of-the-money near-term puts it would be more like 300% or higher--your swing for the fences.

I do like holding the index shorts (assuming a terrific bear market as I do). It really is convenient to have the broker regularly sweep the excess value into a money market account that earns interest, and the longer this goes on the stronger the position gets. I think the Dow is surely safe for the downside until it gets to 8,000--I don't know when.

But lately I have been doing some fooling around to see what kind of stew meat I could chop off the dinosaur's tail as it galloped past.
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