Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: RWS who wrote (18432)	5/13/1998 12:09:00 AM
From: Death Sphincter	Read Replies (1) of 94695

RWS...I hear you on the premium factor during iv....especially if iii ends at the end of the day and iv starts at the close and continues the next day at the open...even it is for only 10 minutes!! I bought OEX last Thursday in the last 10 minutes..right at the bottom...and Friday morning the SP went down 3-4 points for about 10 minutes on the open...they gave my OEX a 50% haircut!!! on 40 stinking contracts....then the market shot up like a rocket and I end up slightly above were i started.....had me fuming all day, what a racket......I'm definately with you on bailing out and reentering. I'm going try to pick what looks like the top of iii then watch....if a see a quick 5 down followed by a simple abc up I'll be looking for the zigzag, and the subsequent 5 down. a simple abc down and it gets trickier(is it still iii or did iv start?) will see. Good trading. carl

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