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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: NOW who wrote (115628)	8/5/2001 2:27:02 AM
From: mishedlo	Read Replies (1) of 436258

My advice based on experience is whenever FNM looks right it is wrong. FNM was in a 82 to 74 channel for months. The last time It rose to 82 and fell to 80 I bought puts. Well FNM reversed and rose to 88 or 89 on me. It is now entirely possible the new channel is now 80-90. Who the hell knows. I am in 2003 leap puts so I am not exactly in trouble but I was not happy about this turn of events. If it falls below 80 I am out. If it keeps falling and rises back to 80 I will try again. If it rises to 89 on me I will be pissed for not bailing now and getting out. If you do go with options I would strongly suggest leap puts (near the money), so you can ride out such nonsense as I am going thru now. M

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