Waiting for the big Kahuna Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ViperChick Secret Agent 006.9 who wrote (16733)	4/17/1998 10:05:00 PM
From: James F. Hopkins	Read Replies (2) of 94695

Lisa; What a ride XCIT has been...gave me heart burn.. if you remember I shorted at 78 3/8 but had may65 calls to cover my rear and as she went up I figured I'd just arb out and keep the may65 puts I wrote. Well as she started down today would you belive I had to pay 1-7/8 to get back the puts I sold for $2 when she was most 15 dollars cheaper ...man this was a set up by the specialest..any way I wached her like a hawk and about 1:45 it looked like she was going to bounce so I covered at 78 making 3/8 off my short ( only had 200 shares ) after commissions I made all of $50 ..the puts wound up costing me 42..after commisions..so I was $8 to the good , but then got 15 out of the calls I had paid 14-5/8th for which netted me another dollar..or there about..I haven't yet tallied the exact but $9 profit is about it after all that work and an almost heart attack..to hell with xcite in the future. ------------------------------------------ BTW did you see the IPOs today..this BK thread is BS... again today the market flew in the face of the futures.. and ended on an up note on a Friday ? thats very bullish to me as Friday is the close positions for the weekend day..The only thing down today was the internet stocks...( they had already eaten all the bears that were in them).. to bad I didn't buy xcit puts yesterday...I think thats over for a bit..it is for me any way. ------------------------------------ Meanwhile I was looking at the rest of the Market and bought me a couple of dogs SGI@13 5/8 & CRUS..@10..almost went for APM.. ---------------------- I won't promise the market up next week but I think any one who would call it down after this display has rocks in their head. This Waiting on the BK would be about right if they would have said it was an up wave they were waiting on.. heck this market is just making up for all those years it was almost flat. <G> NO doubt bout it being over valued , but were else to put the money..when will it come that the BK hits..( it will be a big surprise event of some sort that pulls the trigger ) one not even the bears are expecting...what kind of surprise could we have..that would cause a panic type sell off.. GE goes chapter 11 would do it..<G> or one of the big Banks has to do what CD did..yep have something like that happen to GE ...or one of the Fidelity funds ...then we could have a BK.. But these corrections we have had in the last two years are looking smaller and smaller as you chart them, like little blips on the face of the up trend..which will continue untill untill we get that "big Surprise" no one is looking for.. we have gotten use to scandels about presidents..crooked brokers and all that..so it will take a real douzy to kill this market..all the raz ma tazz about ASIA just caused her to catch her breath..I got it ( the U.S. Gov. defults on bond interest payments ) that will do it.. Jim

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next