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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (569)	3/15/2000 9:33:00 AM
From: Steve Lee	Read Replies (1) \| Respond to of 30051

I will of course place no orders until I have seen how the market opens. A RMBS call purchase on a reversal around the 400 mark is what I have in mind, otherwise on a rise above 420. I have been following your amended "scenario" on the MU thread and should we get the initial dip, I would take profits at that point and reverse stance with calls for the trip to 100 ready to buy some more puts (May this time) for the 2nd, and hopefully bigger, leg downwards. Should the dip below 88 not happen and the scenario complete after a straight 20 days, then I would expect to take profits on the puts before April expiry.