COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00130

-67.5%

Nov 7 11:47 AM EST

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To: Janice Shell who wrote (4391)	8/24/1997 10:50:00 AM
From: Dwight E. Karlsen	of 22053

...which by the open Monday will have lost a HELL of a lot to premium erosion. Index stuff really is amazing, isn't it? I took a look at OEX premiums, on both sides. I was considering buying some at the next top as a hedge against long positions. But they looked pretty expensive just for insurance. I think it was in Thursday's IBD where some analyst/trader type was quoted as recommending that clients do not disturb long-term core holdings, as the current market volatility was "constructive" in consolidating the July run-up. He recommended not to buy index put options, which he called ridiculously expensive. This doesn't seem a good time for me to try. Will try to watch the premiums more. DIE, market, DIE. For now. And then we'll all be the healthier for it... I agree, but the market doesn't seem to want to do that, at least not yet. I'm not sure what I'm going to do. I may go back into cash next week, and just stay out of the market until mid-September. We have a long dry stretch ahead with few earnings reports. I'm going to have to learn to be less impulsive on my entry points. Since I jumped back in at the mid-point of Tuesday's run-up, I'm now about break-even on most things. Did some bottom fishing on Friday in Nokia. Just by luck it looks like I picked the intra-day bottom, so I'm happy about that. Nokia got trashed I think because of German interest rate fears. Since they just had their monetary policy meeting, I can't see these fears persisting indefinitely. I see what look to be hammers in some stocks on Friday. Is there a such a thing as a hammer on the DJIA? On a CS chart, Friday DJIA looks like it might be. But then I don't really know much about CS charting. DK

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