Nick
If you live near your local library
check with them for P&F books
I have the A.W. Cohen book checked out permanently - well at least renewed every three weeks.
that is the book that Tom recommends in his book - Cohen's book is out of print
(disclaimer - if I screwed that info up sorry Tom D. I was on meds when I read that part ;-)
JT - what makes you think eggs will see 29 tomorrow
I think 26 and 27 will be resistance.
btw, Larry Flynt is on Geraldo rivera to disclose his latest info
wonder if he will disclose everything before this press conference at 11:00 pm est which you can catch on C-span tonight
+John Pitera (3645 )
From: +John Pitera
Monday, Jan 11 1999 4:26PM ET
Reply # of 3691
Cramer has a small pearl of insight about the high cost of
The street.Com Internet Index options
DOT PUTS --NO THANKS
By James J. Cramer
1/11/99 12:09 PM ET
You want to know how hard it is to hedge your Net positions? Friday, options expire. I
have been watching this DOT index, as it correlates perfectly with the wild stuff I am
seeing on my screen. With five days left, I always have an appetite for cheap puts, and
one thing I pride myself in is knowing where puts should be given the risk, reward and
time elements. So, I figured, with the DOT at 535, I might be able to sock in some
DOT 500 puts for a cheap shot and a selloff and some protection to the downside.
Hoo-hah! Not only is there no 500 put, but the January 495 puts are at $50. That's
ludicrous. That is just nuts. That's insane. The February 500s are at $87! That would be
the biggest single overpay I have ever been involved in-after 20 years of trading options.
What can you get for 3 bucks? Try the January 450 puts, 84 points out of the money.
That doesn't protect anything. Or, to put it in a way everybody can understand, you
have a $535,000 house. For $30,000, you can insure it for a week, but there is an
$85,000 deductible!
No thanks. |
