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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Jerry Olson who wrote (6101)10/12/1998 10:21:00 AM
From: Tom Trader  Read Replies (1) of 44573
 
Hi OJ-- assuming today's strength holds then I see continued strength tomorrow and that should be represent most of the upside.

Placed my first order to sell naked OEX Nov 495 calls -- it has not filled at this point since my order was well above the bid. It should be filled if the futures get to the 1018-20 level which is where there is resistance. Will be selling naked calls in about four batches.

I have the net long position in the Oct OEX that is doing just great--like I said I'll probably leave this in place to expire and settle for cash. I also am long a bunch of the Oct 510s and 520s that I assumed would expire worthless--and don't have any spread against--may do something with that over the next day or two like selling 500 and 515 calls against them.

Bought some CMGI on Friday for a flip and it has done well--may exit them soon. First time I have ever traded the internuts on the long side -- so it shows that one can teach and old dog new tricks.

May short a few stocks into strength--though I have mixed feelings about doing so--given that the OEX strategy seems to be working well -- so why complicate matters!!

The only thing that is doing terrible is the XAU--wish that Fred would get back.

So all in all -- lots of fun

Let's see how broad the rally is and how much follow through there is over the next couple of days.
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