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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: dennis michael patterson who wrote (16634)	10/14/1998 9:03:00 PM
From: Lee Lichterman III	Read Replies (1) of 42787

This is the first I saw of it. I don't get the Favors report except when you post it. <g> It figures that he now is moving the date back since I am now in this bind with my puts. However according to my indicators, we are approaching some vital resistance areas on many stocks and the stochastics are all lining up in the high region ready to move downward. My overbought/over sold indicators are also starting to register in the over bought region. I think we could still drop next week or else at least go sideways for a while waiting for a news event to push us down. I still will probably ditch my CPWR puts since I just found that they report Monday and I expect them to do well as usual. For insurance puts over the weekend I am really looking hard at MU. I like IBM for puts but they report Monday also. LU received an upgrade today so that will probably fight the downside a little while, CPQ and GTW tried to climb again and DELL did hold the support level I show so I don't see much other than MU and MU had a higher low but it is always begging me to short it when it gets over 30 and the stochastic is getting up there in the nose bleed area. I will probably wait and watch the market for strength and see if it can climb any higher until I see if there are any better put targets. XRX backed down a bit but the move didn't justify the ridiculous premiums they are wanting. IBM premiums are high also. I just figured out the premium I payed for my puts today and it cam e out at a volatility factor of 100%. Normal for this stock is usually around 45%. This is nuts. I may start buying the stock and writing calls and puts on them just to collect premiums. The OEX is approaching the downward trendline that sparked the last downturn also. I see allot of indications that the top may be in but the chart patterns themselves aren't screaming puts yet. Hopefully the HWP warning will give me an exit tomorrow and then I can sit back and watch some more. I just wish I could get some time off work so I could trade these swings. Good Luck, Lee

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