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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (68319)2/16/2001 9:22:48 AM
From: Earlie  Read Replies (3) of 436258
 
Allan:

I hope they try to hold things together for the option expiry. That might mitigate the damage to some extent. That said, I expect the afternoon to be nasty. The pros will want to get inventories down going into a three day weekend. Overnight news now tends to be on the bear's side and they know it.

One of these days we are going to get a true "panic sell-off". It's probably a bit early for this yet, but it wouldn't surprise me in the least.

I will not be using puts today, as it makes no sense given the premiums. I might even buy back some of my carried positions if they really whack them at the opening. But I will deinitely go into the weekend with solid positions. Recall my comments from yesterday that we are just entering the "warnings" period and, as I noted, it's going to be ugly.

Best, Earlie
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