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Strategies & Market Trends : Tech Stock Options
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To: The Perfect Hedge who wrote (51328)9/1/1998 5:33:00 PM
From: donald sew  Read Replies (1) of 58727
 
Beeble,

Already bought a small PUT SPREAD with the OEX SEPT 485/470 when the OEX was around 488. Please keep in mind that, such was my strategy in case there was a sell off at the end of the day. If the market continues up I will add on to that position.

We got as low as 7401 and statistically with major declines there is a retest of the lows within 1-2 weeks. Last OCT was one of the very few exceptions where the market did not retest, but this is not the same as last OCT, just compare the NEW HIGHS/NEW LOWS.

I feel that yesterday's high(8095) will easily contain this immediate rally, if it gets that high.

Seeya
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