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

To: KM who wrote (20818)	7/22/1999 4:52:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Truff, there was a lot of chatter about GS's recent purchase of 20,000 DJX july puts, which turned out to be particularly ill-timed. since the SPX put sale didn't translate into open interest, i would regard it as simple profit taking in expectation of a bounce. i cashed in some of my puts as well, in view of the oversold condition of the market and Don's buy signal. i always keep a few though to be prepared in case of a BK. i figure it's no big deal to let a handful of far OTOM puts expire worthless each month compared to the profit potential when the big one finally hits. a question: do you think the street.com is largely unbiased, or do they take a stance in accordance with Cramer's position in the market? regards, hb PS: thanks for the information - it is certainly advantageous to keep abreast of the 'big boys' moves.