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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: Clint E. who wrote (16870)	6/26/1998 4:53:00 PM
From: space cadet	Read Replies (2) of 69822

Clint, boring day, eh? Though today was good for me because I still have a humongous position in msft. I actually meant to sell it yesterday near its high but I stupidly dosed off to sleep and missed that. Every point in msft is thousands of dollars to me, so that was a very expensive sleep, probably the most expensive of my life. I still think msft wants to make it up to 110. What do you think? Unfortunately intc reports earnings options week while msft is week after. I'm afraid intc is going to stink up the joint so I don't think I'll hold on to my Jul options that long. My record with options expiring in a few weeks isn't pretty. How's your record? I also have Oct msft calls and I expect msft to hit 120 by then. I still believe we are in rally mode so I want to use my profits on msft to aggressively buy some other calls. I plan on being incredibly aggressive for the next few weeks. Only fly in the ointment might be Russia. In the fall I see a big problem looming which everyone except me has overlooked, something scarier than the collapse of SE Asian, Japan breaking 14K, Russian imploding, China devaluing, etc. You know what it is? It's the Dumbocrats retaking the house. If the market gets a whiff of that we could have a grand old collapse down to 6K maybe. I don't thing Americans are actually dumb enough to do that, but just the possibility of it happening could crater the market. Go to Russia or China and you won't find too many commies left. Just in the USA do they really survive. Another thing to worry about in the fall. By then I hope to have really cleaned up during this summer rally and maybe be out of the market completely.

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