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Politics : Idea Of The Day
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To: Nancy who wrote (15621)12/16/1997 11:25:00 AM
From: Judy  Read Replies (1) of 50167
 
S Korea floated its WON today, elections on Thursday. Near-term euphoria and sheer relief are causing a surge in telecom stocks and semi equip makers. Drifting into some year end rally. Gauge the momentum of the liquidity sitting on the sidelines and use this opportunity to buy cheap protective puts to leg into longs down the line. Two reasons for this:

If the market tanks, one makes money on the puts AND if the market does not stablize, one need not initiate the longs.

If the market corrects and stability is not clear, one is protected as one legs into longs. With some likelihood, one can also close out the protective puts at a profit if one sees the worse if over down the line and stablility is on the horizon.

Nancy, go CSCO go.
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