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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (42564)	5/13/2002 9:39:56 PM
From: Proton	Read Replies (1) of 50167

If AMAT hits numbers that I expect I will like SOX to hit 640 in a seven day period and test of 1128 on S&P. That would be a violent rally in the SOX, 25%! Would you see that as short-covering before a new impulse down? Are you considering any of those three-day lottery tickets for expiration week (there's a whole bunch of open interest waiting to bail on the SJXEP)? Would you press a hedging strategy into that up move? The daily chart on the BTK is as classic a descending triangle as one is going to find. There's one slight problem: if there's a breakdown under 370.00, the pattern doesn't complete until the BTK is at minus 57.00 <LOL>. Several biotechs trading near cash, and with modest burn rates. HOLDRs and MLNM are my poison here (can't resist selling 10% call premiums ATM...). Trust all is well. P.

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