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Strategies & Market Trends : The OEX... gasp!
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To: MIKE DUBIS who wrote (565)2/21/1997 6:08:00 AM
From: William H Huebl   of 658
 
Hi Mike,

I acutally used this successfully during the 89 sell-off - made $9k on $200... I drew a diagonal line on a graph paper with minutes on the bottom and OEX value (my estimate) along the side (Y-axis). If I remember correctly, I figured the market would drop 200 points per hour... so that was the slope of the line. Then, I traced the fall of the market by referring to my then-working QuoTrek and plotted the actual values every 5 minutes... by 10 am things started and the acutal value crossed my theoretical limit, so I sold... actually got out with pretty close to the max.

I don't remember how I came up with the drop rate... you can figure that out by looking at the last hour drop rate and multiplying it by some factor... for fear.

As I right this, the overseas markets are fairly benign... down but not crashing. I think Alex is right... we are seeing normal expiry dance.

Regards and hope you make a million... I will try to get MOT puts (it's in a negative spiral according to my indicators anyway.)

Bill
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