Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: Bert who wrote (1386)	5/15/2003 9:47:21 PM
From: pater tenebrarum	1 Recommendation Read Replies (16) of 4904

o.k., a last comment here before i go: i've gone essentially market neutral over the past few days, inter alia buying index puts to achieve that. note in this context that index puts are currently being thrown away, and it seems an opportunity, since a downturn will bring additional leverage via an expansion of the volatility premium. in case i'm too early, i'm prepared to give it another try should we see even more overbought conditions. i figure the percentage of bulls is unlikely to increase much, no matter what, since it's already at near record levels. and over the past few days i've heard the phrase 'the bears are scared' not just once. that's only anecdotal evidence, but as anecdotal evidence goes, it's a pretty powerful contrarian signal imo.

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