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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (37293)	3/25/1998 7:52:00 AM
From: Patrick Slevin	Read Replies (2) of 58727

Futures are currently up 570, at 1122.80, Seems to be getting above the "rising tops" channel....I do not think we shall get much of a pullback. My plan is to buy a dip in the first hour with a stop, and perhaps a sell stop maybe 5 points below that stop.....giving the downside plenty of room, I admit. But the gap open should provide the only "pullback" that is significant intraday, barring major negative news. If I were still playing Index Options, I would be careful about buying puts this early. Although it seems tempting to speculate on making a killing with a small investment; the size and strength of the moves these past few days would have knocked the daylights out of option premium on the short side. There is little indication that this will not continue for a few days as Funds (for example) try to scrape every last penny into play for the end of the Quarter. Perhaps that day or shortly after. EDIT "The gap open should provide the only pullback" By that I mean there should be some attempt to "back and fill" the gap. Futures now up 620 points, at 1123.30

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