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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (66617)	10/9/2003 4:47:27 PM
From: James F. Hopkins	Read Replies (1) of 94695

What a day; and BTW I'm mostly just daytrading, my short paid for the calls with some left over, short at 35.14 covered at 34.60, and I also bought 1 set of puts back cheaper than I sold them..but rolled out to Nov with the puts..I can short now with impunity any time she hits 35..and go long with impunity at 34..and with no risk.. until my opts expire. ---- I did not like the way this did my hedge on HFCGX , I covered the short side to early and didn't get it back at a better price so I dropped the long side on the close. That had a lot of money tied up and wasn't making very much anyway, however had I not covered the short side ( spy ) so early I would have kept it. So I'm no longer running a hedge in my regular account..( but it's still in my IRA as my short side in it is with BRPIX and I didn't change any of that ) except to add 1k shares of a little small cap stock ( API ) that's in the ira. I keep all my under $5 stocks in the IRA , ( because of margin ) well all my foot , API is the only stock I own right now. For the most part I let the pros pick my stocks and play mutual funds..or ETFs.. ---- I did set up a long play on INTC & CSCO against a short on QQQ..and it did OK for a while but went flat so I dumped it.. Right now it's the small Hi Beta stocks running the market up..and that can't last to long. with the big boys hanging back and just bringing up the rear. ---- We got a warning when MSFT, INTC and CSCO all 3 dumped back in SEPT..and INTC is the only one who has made it back up to a new high since. --- We may ramp some more..heck I'm ready to trade her either way, I now have both poots and calls..It's called a straddle but instead of just waiting for it to work..I work it. Jim

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