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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (27161)9/10/1998 6:45:00 AM
From: Philipp  Read Replies (1) of 94695
 
Hi Bill:


The fact that Congress is ill-prepared to handle KS report leads me to believe that it will be later rather than sooner and less rather than more.

I think I agree. I have some difficulties seeing how the Clinton affair can be a trigger on its own. It will be a long, drawn-out affair. So, it may be just one factor of several (earnings, Asia, etc.) that may drive the market down to crash-signal levels. We are still a long way above dangerous levels this morning (993 SPX on the futures), so it has to fall quite a lot. However, I am getting tempted to buy some more September puts. Considering how close to expiration we are, the potential gains are astronomical.

Good trading,

Phil
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