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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (25242)10/7/1997 1:10:00 PM
From: Brad Hill   of 58727
 
are you getting in before the move or do you wait for momentum

I wait for the end of momentum, when the option price drops, or ideally, I wait for dips. I have an overriding momentum attitude about the SPX--at the moment bullish to DOW 8400. Using that as a base, I look for fluctuations for entry points. I find waiting for momentum is deadly with options, because the MMs usually anticipate it.

Another rule I have with SPX options--when ready to close, sell directly into the strongest part of a rally. Never try to top it out, because the MMs I follow -always- anticipate the top and push contract prices down HARD before the momentum ends. So painful as it is to seel during appreciation, I always throw my exits directly into strong rallies.

-- Brad
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