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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (23368)	2/10/1999 12:21:00 PM
From: Area51	Read Replies (1) of 50167

Good morning Ike, Your reply is much appreciated. I went net short the market when NDX 1280 broke decidedly based in part on your analysis [I got horrible untimely fills from my broker (ameritrade) so I won't make money unless we see further deterioration. I had been hoping for timely horrible fills]. First time I've been net short the market in several years, but several things are bothering me: (1) decisionpoint.com (significant divergence between NASDAQ and Advance-Decline) (2) sentiment seems overly positive with put to call ratios historically low: decisionpoint.com (3) Earnings growth has not been robust; I think I saw SP500 earnings 1/25/99=38.09; SP500 earnings 1/25/98=$40.64. If anyone has conflicting data please reply. I plan to exit my put positions if NDX 1280 is taken back out unless I can garner a better strategy. One question for you. When you say that you sold 1280's and bought the 1210, I presume you sold the 1280 Calls and bought the 1210 Calls? It's probably obvious to you, but it would help some of us less experienced traders if you could spell it out for us. Why didn't you simply buy some puts when 1280 was taken out decisively? Thanks again, Garry

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