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Politics : Idea Of The Day
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To: J.T. who wrote (22521)1/13/1999 7:59:00 PM
From: IQBAL LATIF  Read Replies (3) of 50167
 
I think every one here hold your very fine analysis with utmost respect. I agreed with your assessment and hence was advocating among others buying of puts at 1270 1260 1250 for Jan even I posted very clearly that gap of 1260 needs to be filled and we may go lower, had it not been for that bearish slant of my trade I would not be able to get out of my 1250 puts at 38$ the highest paid for that strike yesterday was 41$ I think something I bought for 7$ day before by selling 1220 for 5$ was squared at 38$ later after the rebound towards the end I squared the short put at 4$, the only thing bullish I did was that I was sure at 1214 that we are about to rebound although I remained bearish most of the time, one thing I kept an eye was INTC I saw it down only 1$ max and with SEG refusing to budge I thought lets see if 458 on DOT holds once that started coming back up I thought to stay short any further would be suicidal and jumped out of my entire puts positions. Had it not been for your and James continous education on this thread I would not able to add 140 calls on INTC for April when INTC was at 1353/8 I also sold 135 Jan put at that level for 33/8$ lnowing well if 112 on NDX cannot bring it down it will soon follow the path of least resistance that is up... JT you know it well that market is place where opportunity has to be recognised and taken, on this count alone this thread with contributions from likes of Judy Rich OJ Sonki James Kevin Kona Tim Chuck Roebear Reddy may sound as too realistically optimistic but it is just that we may all be fed of too much of doom being prophesised on SI, may be this corner provides all of us some relief but look at OJ's great pst about eating the hat when I was getting out of my long puts - look at the timing of the guy and if any one like I did would have jumped in he would make a fortune.. Thanks for your great contributions and I am your greatest admirer and will always remain that way... Love and my best regards...Ike
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