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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (28550)	9/3/1999 2:33:00 AM
From: Kona	Read Replies (1) \| Respond to of 50167

Ike, great stuff as usual! Got my eclipse photos back, let me know if you want copies. Prakash

To: IQBAL LATIF who wrote (28550)	9/3/1999 9:28:00 AM
From: IQBAL LATIF	Respond to of 50167

How many times you see from the open rallies like this... S&P 500 SEP99 1345.10 +2490 NSDQ100 SEP99 2451.95 +5195 Not that it matters to a bull like me however it is in context of my positions last night that I would like to discuss.. now SOX most likely will pen at 550 and DOT may be 600, but here I will find them retrating a bit where I will like to cover my positions as follow.. 1-Undoubtedly my underlying call positions will be solidly up, alongwith my core. So that is big positive for a leverage account like mine.. 2- Outside the money calls on SOX and DOT 610's and 700 can run for next few days but on a dip I will square as time passes by premiums initally built up will erode however the fact remains that I will be laughing all the way to the bank if I see SOX 610 and DOT 700, it was a hedge and underlying Yahoo's Amzn's AOl's Qcom's RMBS with others will run so will IBM, the good thing was that if we had a negative surprise I was cushioned with some hit, on hte up I am alright rahter above 1344 I would think we se a run to 1362 resistance and a put can be sold on BKX SOX DOT. On SPU I will bel osing premium on Sept long puts but I was not a fool to buy these close puts I had sold the Oct's to minimise the hit if I had a surprise on the upside, afterall insurance available cheap is laways good, that what I did what looked as a strnge strategy last night prooved to be good in the morning as I said earlier it has seeds of both sides engrained, I sund complicated some say it goes 'over the top' but assure you Ike trading has 22 years of dues behind it, learn it you will always like it, keep printing my posts and go through them as I talk about indexes and you will notice that I an not that complicated... take care and good opening could see 1333-35 where go long ...