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To: re3 who wrote (47489)8/4/1999 3:35:00 PM
From: John Graybill  Read Replies (2) | Respond to of 53903
 
I'm short at 62. I'm looking to get Oct 50 puts to take advantage of any "guidance" or other such sudden fits of reality that might befall the analyst community in the next few weeks.

But I'm waiting a few days. Action today and yesterday suggests to me that They would like to whipsaw us for a while before getting down to business. Yesterday at 59 and today at 60 9/16 were the Prices That Shall Not Fail; the run-up today at 12:55 or so was a meaningless market-wide buying program that showed no staying power. (The graphs of DJII, SOX, ALTR, TXN are all basically the same through that period.)