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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bull RidaH who wrote (34716)	12/1/1998 12:52:00 PM
From: Arik T.G.	Read Replies (2) of 94695

>>OPEN QUESTION TO THE THREAD: If you knew this was the day that the market made the high that may never be topped, what would be the best way to profit from this knowledge? Which instruments would be best to use in reaping the greatest rewards? Assume you don't know how large the upcoming drop will be, or how fast it will occur. Write naked close expiration slightly in the money calls on high volatility stocks (AOL, DELL) and keep shifting down the strikes whith the decline. Write deep OOM calls on YHOO and AMZN, and shift them down, too. Buy far expiration OOM puts on low volatility stocks (KO, PG). More applause to the 1 pt. miss this am. Between the white whatchamacallit on 11/23 and the black same whatchamacallit yesterday, and the expanding top formation with the failed high on Friday, we have a complete reversal pattern. Therefore the market should be too weak to reach 1192 again. IMO 1170 cash should hold as resistance, unless we're going to new highs. ATG

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