Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Cynic 2005 who wrote (7671)	10/27/1997 12:35:00 PM
From: IQBAL LATIF	Read Replies (1) of 94695

The basic theory of BK thread flight to quality is in serious trouble- bonds selling off- $ is not weakening and CHF is study- there is no internal or external flight to quality- and marekt is taking out stops- but I tell you look at divergence and basic fundamentals- this is corrections brings market on 98 earnings basis to 20.1 and for me I don't see this as a real threat- I have just covered my puts 940 and have left 870 naked - I see the call premums intact I go short if Isee bonds breaking 117,17 otherwise I am going out to have good time- why are call premiums so huge- why don't bears try to sell some calls and buy some puts? Great bargains- this is no cost insurance- I will do it if $ weakens against CHF or DEM and bonds break 117,17- the party will wait for tomorrow- towards the end I will protecrt again myself -sell some 990's Dec and Buy some 850 puts a bunch of 20.That's how we are playing this correction.

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