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Strategies & Market Trends : Tech Stock Options

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To: MonsieurGonzo who wrote (31546)	12/18/1997 6:11:00 PM
From: Nemer	Read Replies (1) of 58727

Steve: ------> BIDxASK plummeted during that last 20 minutes, and ended up well below the original 2x3 ASK range, at 1-3/4 x 2 (!) Needless to say - I wasn't expecting that. Live and learn {grin} - now I need to learn. What are the causes of this phenomenon ? When you find out let us know. This is raison examente why I've just about quit trading the OEX since the split. Several inquiries have resulted in answers from "friends of friends of friends" who are in the business in NYC, Chi, and Phil and all have come back with roughly the same answer------- the sharks are hungry and there is more volume of index trading coming from the hoi poli than in years past and it's easier to separate them from their money than from the traditional traders and each other. One of the "inside" guys is one I've known for several years ( lurker here, never posts) and he reminded me of the quote I sent Patrick about the poker game the other day------ If you look around the table and have trouble picking out the "fish"---the fish is YOU. ........could be I'm wrong and seeing shadows....... but I've been trading for thirty years and this OEX is the toughest market from which I've endeavored to wring a profit. Regards------Nemer

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