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Strategies & Market Trends : The Options Box

QQQ 619.55

-1.1%

Jan 14 4:00 PM EST

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To: Poet who wrote (8672)	12/22/2000 2:13:51 PM
From: Lee Lichterman III	Read Replies (1) of 10876

Well since I left for a while and have the benefit of hind sight, all I can say is congratulations, your puts should be looking good right about now. Total failure of two bullish setups so I think Heinz will be right and we just had our two day rally attempt and are now going down for the count. I thought it was too easy to replay the same script two days in a row and was hoping for a late rally but this looks ugly. It is though someone big just warned. Very minimal chance that they are closing the gap but I doubt it now. Fall is too fast and vertical to be bullish in a normal market. It is pre-holiday low volume so there is a remote possibility of a shake out but a I said, doubtful. If you have a whole bunch of puts. You can probably lock a couple in now just to protect some profit if you bought in near the highs today. Heck you probably already have a few doubles. My Jan 55s just did. <g> Now what to do with this last Mar 45 call is the question...... Our stuff was all bullish two days ago but I am now worried this was it and most of it will be back to neutral. Unfortunately I won't know for sure until after the close and I get my data in. Good Luck, Lee

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