02 tax loss season;Mother of all buying opportunites? Message Board

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Strategies & Market Trends : 02 tax loss season;Mother of all buying opportunites?

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To: russwinter who started this subject	4/6/2003 2:04:27 PM
From: CapitalistHogg™	Read Replies (1) of 212

The market seems to be trading exclusively on the news of the war. I am trying to fade the rallies and then perhaps go long on the dips. I took a gamble over the weekend and held my short (QQQ's @ 26.52) thinking that the market was positioned for a flawless war, and heck it seems to me that anything could go wrong, after all this is war. I am also basing my decision by the VIX and VXN charts which seem to be fairly low. Judging by the news on CNN, MSNBC, and FOX it seems like this war is becoming a cakewalk. And although I know they are putting forth the best possible spin, it does seem as though we are making some good progress. 'Chemical Ali' is looking very dead and I've heard that Uday (Saddum's son) is also dead. Apparently on our first strike we came extemely close to killing Saddum, I heard rumors that he was bleeding out the ears from burst eardrums, and that he was completely out of it for a few hours because of the concussion he sustained (sweet). And although the Iraqi civilians are not showering us with flowers and rice, they don't seem to be putting up much resistense either. In addition, the oil well fires have been contained and I think we have captured something like 2/3 of all the fields. All of this news looks like it could be near-term bullish, and I will probably cover and go long on Monday. Another strategy I was considering was buying May calls and buying July puts for a modified straddle (QQQ's). The implied volatility on Friday was 37% a touch high so maybe I will leg in for the best price. Unfortunetely I can not write options (yet) so I have to stick with buying. Does anyone know an easy way to check implied volatilities automatically using some software program? I have used TC 2000 for stock scans, would like something similar for options.

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