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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (19010)	7/21/1998 4:30:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

Action and Idea is never far---Why did I moved my put strategy higher to 1998? Because we care for move up and down--equally July 21 --2.06 post-''Having a great fun but moving my sprinkling put strategy higher to 1998 I will buy lot of puts for Oct on a close below this number on composite- I think in a cup winners cup rally I need composite to hit this magic number of 2050 before retreating below 1998 if does not shorts may have other designs for a quick run down I will be with the shorts until 1967---- but not before a close below 1998-- enjoy the upside and the downside with uncle Ike''- Shorts did have other designs and so was this thread ready--- In line with my strategy before all hell broke loose shorted 1230 SPU calls at 11 and change and bought some puts 1170-- expect now SPU to test 1155 area- the ferocity of selling made me run for the cover although in normal circumstances I would have done this below 1998 level puts on closing basis. Overall SOX would not break 262 but I got out of long calls- INTC TXN IBM all faced selling very nicely the rotation I was anticipating in my post to Pearson is in progress-

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