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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

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Dec 11 4:00 PM EST

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To: marginmike who wrote (68505)	2/4/2001 8:14:49 AM
From: Stephen M. DeMoss	Read Replies (2) of 99985

Marginmike, Thanks for your thoughts re: naked puts. It sounds very good. My only concern is that what today looks like 'bargain' buys tommarow may look foolish. When MSFT was trading at 100 several months back, that looked to me like a good put selling situation. If I had sold puts there, I would be in a small panic now. Yhoo looked great last summer when it was bouncing off 100, today I would be sick if I sold those puts. Qcom is a great company but the tide could turn on it (sentiment and Chinese kick them out) and it becomes a $20 stock. I don't say this to say I would not do this strategy, I have thought about it over the past years, but I have been so blown away by the compression on stock prices; the lack of a floor for many, that I have some reservations. I'll keep thinking here about it...Steve D.

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