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Strategies & Market Trends : Waiting for the big Kahuna
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To: joe smith who wrote (19282)5/28/1998 12:39:00 AM
From: James F. Hopkins  Read Replies (1) of 94695
 
HI Joe; Well short term we should bounce with interest rates being down and all, I dumped my long early but think maybe I should have held it till tomorrow..I'm just not to sure a bounce will hold very long, or if we will really get one. So far the Foreign markets don't think much of our late afternoon rally , will see early in the morning how they take it..
It's real odd the way it traded, most all program trading , and I suspect it was some short term short covering more than bargain hunters. They got both Bulls and the Bears trapped..at the
same time. This ought to be interesting <G>
That maybe I should have held it is sort of tongue in cheek,
I'm kind a glad I got my rear out of the way as quick as I did,
they held the MDY up for about the first 9K shares and I was
gone..but it cost me almost 3/4 a point. They are nickel and
dime ing me out of my gains with the contortions they got her
doing. <G> With this type of narrow basket trading going on
individual stocks are real risky..if you got to play, play
an index..( short term )..options got to much premium and are
being skewed all over the place by the specialist right now,
you got to get options in a tame market before the heavy trading
in them starts..the little guys get shafted any time they buy
once options start trading fast. One or two might get lucky
but the floor is the one making most of the bucks.
Jim
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