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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (26088)	5/6/1999 6:37:00 PM
From: Jerry Olson	Read Replies (3) of 50167

IKE just got back from lunch in NYC with the wife...today at about 1-2 o'clock, i went totally to cash on all open option positions... while i've had a wonderful run from the Oct 98 lows, i feel it's now prudent to take all profits off the table, and begin to play hit & run, scalp and swing trade only... i did not like how i felt today...i will wait diligently for the May 18th FOMC to see if they change their bias towards tightening..they are not going to raise rates, thats for sure..but if they do change from neutral??? then this market will correct 10-20%, right then and there imo.... i don;t need to be brave, just smart...i even sold my QCOM options too...i feel right after the split, they are beat this stock up..its way too high right here... i have NOT sold a share of any long term portfolios...wont do it...i only add to that group during panic selloffs... so it seems we are on the same wave signals... regards, OJ.......

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