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Strategies & Market Trends : Sharck Soup

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To: James C. Mc Gowan who wrote (11809)	3/14/2001 5:12:51 PM
From: velociraptor_	Read Replies (3) of 37746

James...my best guess is that the indexes are locked for down now. Unfortunately for yesterday, I also expected a little more upside so I had not yet finished scaling back into a full Put position and was not able to take full advnatage of the initial drop, but I knew it was coming. I dumped a lot of Puts in the am and picked up some new ones as the DOW completed a very nice A-B-C correction to the initial decline. All of the new ones are April Puts ranging from S&P 1050 to 1150. Again, not too heavily invested in options in relation to total capital. I think over the next few days we should see some new lows coming in and I will be looking to close all Put positions by late Friday or early Monday and switch to Calls.

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