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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bull RidaH who wrote (15703)4/8/1998 11:34:00 AM
From: Barbara Barry  Read Replies (1) of 94695
 
David,
WOW!Your posts are terrific.Unfortunately,I'm too dense to completely understand them.:(
As I have posted to Bill,I am waiting day by day to get a signal to buy puts (I play the oex).This market looks so much like it did last at the end of the rally that started last April and that makes it difficult not to already have initiated puts.IMHO, the oex spx and dj all are starting to crack using my primitive stochastics,wilders etc.
I hate buying April puts...but that is being a little greedy...because the returns would be modest compared to what one would gain by buying May puts after 4/20.Maybe Lisa can help me out with her voodoo thing and hold this market up ten more days.<gggg>My charts say a correction is imminent,but my gut says we might get a quick fake out first before any substantial correction.The psychology/insanity of this market is stronger than during last year's run and interest rates have fueled that.This is what has held me back from buying puts today.I know I probably should just go by the charts but somtimes in the past that has cost me $$ because my charts and I were right...but the market wouldn't cooperate by being stubborn that extra day or few.
Am I way off base??
Thanks for all your efforts on this thread.
Regards,
Barbara
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