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Strategies & Market Trends : Waiting for the big Kahuna
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To: RWS who wrote (17543)4/28/1998 4:23:00 PM
From: Bull RidaH  Read Replies (2) of 94695
 
RWS,

I agree with your count. It's still remotely possible we are in wave 2, but the probability will continue to decline with each passing minute, and a break of 1086 on S&P futures and 1080 on the SPX cash would probably seal the deal for wave 3 being underway.

With so much time to go on the options, and with the correction due to wrap up well before expiration, I don't have a problem holding puts/short contracts overnight, especially when it's impossible to pinpoint the start of 3 down with 100% certainty.

Thanks for your excellent contributions, and for keeping the thread aware of alternative reads. Maybe Duke WAS the school to go to. :o)

Regards,

David
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