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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Jerry Olson who wrote (7044)10/22/1998 4:12:00 PM
From: Tom Trader  Read Replies (3) of 44573
 
Hi OJ--good to see you back

It's really pretty here, as well -- though getting a bit cold -- my feet have been frozen all day -- and that's with socks!! I am a really into fire-places and all that -- used to have one most days even in CA during winter -- so I went ahead and ordered 4 cords of wood -- used 2 cords in CA -- so I figured that I'd need at least two times as much here!! Am looking to have a fire-place added to my study -- so that I can have a roaring fire while I am trading -- since I spend at least 8 hours a day here -- at least!!

Re the semis -- yep, you called that perfectly!! Am looking for a pull-back to add some more.

Re the market, the strength is impressive -- today the SPX closed above its 200 dma and the RUT over its 50 dma. It was enough strength for me to decide to take protective action on the naked OEX 535 calls that I sold earlier. I know that everyone is calling for this to correct but the way that it is acting it could just start to break-away for all I know. In any event, I figure that any decline will be limited before another rally -- and then we may or may not top out.

You are right about there not being any sellers at this point.

Are you going to be around a few days this go around or will you be heading out again??

Regards
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