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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (26832)	4/17/2000 11:58:00 AM
From: RocketMan	Read Replies (1) \| Respond to of 42523

I think this is the lunchtime crowd starting to return their broker's calls and doing margin selling. Let's see what happens by mid-PM, but I'm holding on to my long positions, and not starting any new positions. I closed out all my puts this morning this morning ahead of the rally and am mainly in cash. The puts had appreciated too much, and there's no way I'm taking a winning position into expiration like a fattened calf. I look for them to drive the market to the max pain point late this week. Edit: decided to throw Mr. Bear a peanut butter and jelly sandwich. I'm not liking the looks of what might be another failed rally, so I re-hedged my longs at lower levels with some May puts.