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To: Boplicity who wrote (1122)4/14/2000 12:05:00 PM
From: London Brian  Respond to of 13572
 
SUNW now down today. What a brutal market.

I have a friend who is a stock broker. This has been his best month ever. Today he gets a paycheck over $350,000.
In his personal account he has had margin calls every day for the past 8 days. Some of his clients have had their accounts (as big as $1 million) liqudated.
He was doing a lot of naked puts, and selling ITM covered calls on margin.

Many of the puts I wrote are getting hammered, and my currency (QCOM) ain't doing so hot today. Fortunatly, I didn't buy any stock on margin. I can imagine how some people are hurting really bad. I had a lot of buying power left when I stopped writing puts, and I now need to do some serious repair. If I had used all my buying power I would be wiped out.

Happy trading people -Brian



To: Boplicity who wrote (1122)4/15/2000 8:32:00 AM
From: Sam Sara  Read Replies (2) | Respond to of 13572
 
Greg- still holding your B&H stuff?

I still have some funds in a biotech fund, and boy is that looking ugly.

I put B&H money into it, but if we get a rally, I may sell into it, like the rest of the hordes.....

Next week will see an intermediate term bottom, who knows if it will hold...


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