MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: robert b furman who wrote (5901)	1/3/2001 10:24:21 PM
From: High-Tech East	Read Replies (2) of 19219

I think you should end your post with one more word - "GULP" I like that - excellent comment, not to mention funny - time will tell ... ... I anticipated a sell-off before the close today, which obviously did not happen ... but the sense that this market will continue relatively straight-up from here (before a capitulation sell-off) is not likely (in my view) ... ... should today's rally continue with no major slump during the next 15 or so trading days, then obviously my puts will have little value come February 1 ... ... certainly, I am pleased that I sold the put with the 180+% profit yesterday ... if I hadn't, I would not have purchased another after the Fed lowered rates today ... ... I will look at this again daily, but right now, I intend to hold them through most of the earnings releases of the next several weeks ... ... the Fed has certainly changed perceptions significantly today, but their action will not do much to hold off the very likely and quickly arriving recession (even if it is only a profit collapse as already seems probable) ... Ken Wilson

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