The OEX... gasp! Message Board

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Strategies & Market Trends : The OEX... gasp!

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To: Jerry Rosenberg who wrote (202)	12/13/1996 6:44:00 PM
From: Stuart Briscoe	of 658

Jerry, did you have any luck with your LE's today? I considered buying some LA's if the OEX got down to 695, but it never did. I picked up an XA and an XB when they were low and made a little on the XB and lost a little on the XA at the close. I didn't want to hold them over the weekend, not knowing what Monday would bring. Bonds were up at the close, so I usually go by that and how the DOW ends. Most of the day was in a very narrow trading range. The Advance/Decline line was not all one sided, and some stocks even gained, so it has not been a broad decline. Investor fear was evident in yesterday's market at the close because bonds were up in yield due to corporate bond issues competing with Treasuries. With bonds up, there was not the panic in today's market. There is still a lot of volatility, but unless the market further corrects, there might not be as much opportunity to make as much on puts at this point. I'm going to have to start looking at equity options again soon. Unless there is a clear trend in the OEX, it is hard to find entry and exit points.

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