Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: OVETUS who wrote (25591)	8/29/1998 12:23:00 PM
From: Joseph G.	of 94695

Good questions. As I don't try to trade very short term, it's easier for me. -g- Mostly in cash, some strategic shorts, and Nov, Dec index puts. If short term it rallies, buy a little more puts/sell a little short. If it drops - sit and wait for the goals to be reached. I see this Fall action going through DJIA supports of 7,100 (last Oct Jan lows) to 6,400 (Apr '97 lows), then likely organized market support and a desperate rally 10 - 15%, then more down to perhaps 5,300 range by Nov options perspiration. I think it's important not to try to make as much as possible, but to limit risk - in times like this the main goal must be capital preservation.

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