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Politics : Idea Of The Day
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To: robnhood who wrote (20651)9/23/1998 5:18:00 PM
From: IQBAL LATIF  Read Replies (2) of 50167
 
Ouch touch me not it was suppose to be a very strong sell also- the chart you bears follow and the one we follow has a kind of marked difference to be honest since Monday we were long at 1009 waiting for 1700 on composite and 20 days on DJIA I think at 7932- the day we crossed it we were dry home-- the shorts hurt Russel- touch me not-

By the way the real profits are on our long calls which we purchased for practically nothing now deeply in the money-- what else you want from this life-- Even Gods become angry when Ike is disturbed-- the Bhumbo moves up very fast and very swift--- gggg You are the best bear in the town-- I love you Russel- other bears are Ouching and ahing, the bhumbo is hurting the pain is imense- love it and enjoy every bit of it-- sell calls if Japan fails 500 points and close below 14200-- Russel suppose you are fully invested now you want real big return that is what I did-- in anticipation of this move--

NOKIA-- Bought-- 80 calls -- 50 of them

FTE-- Bought- 75 calls -=- 50 of them

ALA- Bought 100 calls - strike 20

SNE 75 --- 50 of them

Now for a very little outlay I have a huge exposure-- now I will sell 1130 twice the size of my call exposure and buy from the premium some puts at 1040 if we see a break of 1063 on closing basis- if we open lower I will sell 1110-- now I will have my long calls six months out and will keep insurance of this month handy by selling calls and buying puts- if we move above 1130 my positions will be paying me big time and my losses from naked calls will be offset by my huge exposure in calls--on down side I am now protected for this month below 1040-- this is how these volatile markets need to played-- best reagrds-- Ike
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