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Strategies & Market Trends : The Millennium Crash
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To: yard_man who wrote (3290)8/31/1998 9:25:00 AM
From: Arik T.G.  Read Replies (1) of 5676
 
tippet,

You're right. I predict medium term but trade short term.
In line with what I've posted, I could've bot deep OOM Sep puts on July 16th at VIX under 17 (which I did, the 520 Sep put cost me only 5 5/8 but I sold it after only a week). I am a lousy trader, but learning.

VIX reached 45 on Friday and that signified a bottom of some sorts.
The 1 of 3 Elliotte wave has completed its sequence.
That, coupled with the decay of options, made me bail out thinking
that staying with OOM puts over the weekend was very risky at such high i.v.
Hopefully I will buy them back cheaper today.

ATG
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