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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dealmakr who wrote (18888)	6/30/1999 8:39:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

David, Sure it could be a hedge, but remember I was responding to a post that was showing some discomfort with traders, and my issue is why get on the little players like us and not the big boys, especially since the big boys are the ones who are probably the most bullish. Some of us are bearish and we state it clearly and we trade accordingly, vs the big boys and girls who trade much larger positions and then at the same time say the opposite of what they are doing. Of course they dont get beat up as long as they are in agreement with an individuals view. As for Goldman Sachs, yes it could be a hedge but it is common to hedge by selling calls if they thought the market was going to drop. The other possibility is that they sold calls to buy PUTs, but dont recall anyone mentioning a large trade in calls at the the same time the 20,000 PUT trade was executed. In light of that I am more inclined to say they were trading not hedging. Oh, by the way, if I recall correctly, ABBEY made one of her bullish announcements maybe a day before that trade. seeya seeya