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Strategies & Market Trends : The picks

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To: Patrick Slevin who wrote (3275)	1/29/1997 9:41:00 AM
From: Andrew Vance	of 6124

AV INDEX PUTS Well, YES and NO. I own one INDEX put but have no idea what is going on with it. I have not gotten a good enough education here to be an expert like some so here was what I did. Called my broker and said, "I beleive the market is going down and have $2000 to devote to an experiment". Buy me something in the INDEX options arena that pays off if my hunch is correct." Buy a put (key A put, not 2 or 3 or more puts) and I will call you when I beleive the market is turning around (DJIA)". So I have no idea what is happening and I am not "trading options". He has instructions to auto sell if the DJIA falls below 6600. Then we will discuss what took place and how much money was made. BLIND FAITH or STUPIDITY or EDUCATION. Well, in today's changing environment, I pay $1000-$2000 for a 3 day training class within my profession. A $2000(or less) Index option with the broker keeping all the blow by blow puches for me is well worth the investment. When it is over, I will have a mini primer on what the hell happens in this area. I have no idea which option it was but it has to be tied closely to the DJIA.

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