Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bull RidaH who wrote (23272)	8/5/1998 7:52:00 AM
From: donald sew	Read Replies (2) of 94695

David, If there is a pop soon/immediately, the strength of such pop/rally will be a strong indication of whats to come. Lets say that it does pop soon and the pop is immediately sold off. Thats a real bad sign and a confirmation that we are going alot lower. If the pop is small but holds then there is a chance that the upcoming drop may not be that strong, at least not immediately. If there is no pop - well that's real bad. If a rally is strong but does not set new highs, which of course I doubt, we are still going lower but it will take longer. In all the examples, we are going lower, but how much and how fast could be determined by this forthcoming pop, if there is one. I took a chance a bought a small position of OEX CALLS looking for only a small pop of about 10-15 OEX points(can even live with 5 points) in order to create a BEARISH CREDIT SPREAD. Will be working with the AUG 565 and 560's, since I seriously doubt the OEX will get anywhere close to those levels - just want to have them expire worthless. Seeya

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