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

To: ayahuasca who wrote (29847)	11/26/1999 12:53:00 PM
From: Lee Lichterman III	Respond to of 50167

December's have faster premium erosion and we are in a mania type move right now so I want more time in my puts. Higher interest rates, rapid rise in earnings for employees and tight labor market say we go down but fundamentals are a lousy timing tool and the charts are showing that techs are ignoring all common sense right now. They eventually will have to pay the piper but until there are clearer signs, I want time on my side. Also once the Darlings break down, I think a fib retrace will be in order which means out of the moneys should give a bigger bang for the buck. Everyone has their own strategy so you may be in a good play. I just want more time and more bang if they bear fruit. I do still have a few buy signals despite many of my tech sell signals so a sector rotation could be justy around the corner. As Ike said, if they want to run the DOW up, it wouldn't be the first time that due to lack of capital, they bled off the NASDAQ to pump up the DOW. This is looking a lot like this summer. Pump up one index, squeeze the shorts then use the same money to pump up another index, squeeze the shorts then use the same money to pump up the last index and then let things drop. I fully expect the market to drop in the spring, until then, it is a traders market as only the quick will be able to keep up with the rotation from sector to sector. Each rally over the last 2 years has been narrower and narrower. This rally has been on basically 65 stocks. Good Luck, Lee Good Luck, Lee