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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject4/18/2001 1:40:51 PM
From: besttrader   of 37746
 
Rumordude is buying calls here. Gutsy! (50 dma's important too) -->

Holy cow! Fed did a surprise 50 basis point cut today and
just killed the shorts. This tactical move is simply adding
fuel to the fire. Massive moves across the board to bump
everything above their 50 day moving averages. Needless
to say this move has exceed every one of my parameters I
listed yesterday. The great bull is back! But I would not
chase things here.

CHKP

Here is one that I've previously been very negative on. As
with many others, the CHKP chart is beginning to turn a
new leaf. MACD heading positive and now above
support/resistance at 70. Since software still is "where it's
at" there could be some more upside potential here, 80
would be the next stop followed by retests of it's high
around the 110's.
Buy to open 2:1 backspread - short May 70 calls,
long May 80's
[RumorDude]
Wed Apr 18, 9:07am
PDT
$NDX.X
EBAY
AMD
MSFT

We expect earnings from these guys to bump them up a
bit further. Fed support certainly helps them paint a
prettier picture if they so choose. We might cut some of
these towards the end of the day depending on activity.
Most buying today is institutional.
Buy to open Apr 1850 $NDX.X calls, Apr 65
MSFT calls, Apr 27.5 AMD calls, Apr 50 EBAY
calls. We're still keeping numbers relatively small.
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