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Politics : Idea Of The Day

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To: Judy who wrote (15768)	12/19/1997 12:27:00 PM
From: Tom Trader	Read Replies (2) of 50167

>>My dear, the violent action this morning was due to unwinding of positions and fundies taking profits off the table. Unwinding is near completion for this options expiry and tape action at the moment suggest the market will have a benign close<< Listen, my sweet--we will have a better idea of this by Monday; one thing that one cannot ignore is that the move up from last week's bottom was very labored and the decline was effortless--that tells one something. It would not surprise me if the decline continued to the end of the year -- and then we rally strongly in January as the money flows in. The good news is that OJ is now looking for a global depression:) Will now sell short calls on NKE if it rallies to 42--as a first step to establishing a long position in the stock later. Look forward to hearing your views on the semi-equips--AMAT sits there like a rock--and I've sold calls and bought puts--behaving almost like your AOL trade.

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