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

To: Benkea who wrote (29171)	10/12/1999 4:43:00 PM
From: Stephen	Respond to of 99985

Benkea ... ??? .. INTC missed what by 14 % ??? edit ... saw your next post ... I'm not used to that kind of humour on the MDA thread ... hence my initial response .. Stephen

To: Benkea who wrote (29171)	10/13/1999 12:43:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 99985

INTC just missed by 14% !!!! LOL..I just love it. I've just lurked the last few days, since I don't have anything new to add to what has been posted/discussed. I know Lee doesn't like "gut feel" posts, either. Anyway, I wanted to mention that Shepler Capital Management was right about the bounce up from the lows of end of Sept, and did state that there was resistance at the spx 1335 level, if I recall. Well then when the market did smartly go to that level (I sold my calls at 1325, to cut risk, book the trade, etc), Shep didn't stop to think much on the possibility of a reversal, but instead just raised their short-term targets (spx 1350-1380, etc). As for this thread, while there was certainly lots of bearishness down at the spx 1260-80 level (bulls were definitely in the minority), that certainly didn't mean that this thread should be taken as a contrarian indicator. Rather, when the SPX went to 1335, I began looking at the (here you go, Lee) severely overbought slow-stochastic, pushed up to the 95 level. Then with Monday a doji, and then the futures dumping very early this morning, I was confident enough to put (pardon the pun) some money on the table. I placed a "buy at market" order for a couple of Nov 1350 puts on the SPX. Then I rolled over and went to sleep, then woke back up and just went to my regular 40-50 hr/wk job. It's a busy time at work, but I like to make a buck on the side (or two or three -g-). So it's always nice to see I can successfully do index option trades, even very part-time, and make really decent returns. Just wish the gap-down hadn't been so big, but the put buy did fill at 9:32am, so that's good. Edit: I wish you hadn't been kidding about that INTC, you had me excited for a minute! Jeepers. Good trading all.