Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (6800)	4/21/2000 11:04:00 AM
From: Poet	Read Replies (1) \| Respond to of 8096

This little humorous ditty was posted by Vol on the "cents and Sensibility" thread: Please read to the tune of Don McLean's "American Pie" Humble Pie ------------------ A long, long week ago I can still remember how the market used to make me smile What I'd do when I had the chance Is get myself a cash advance And add another tech stock to the pile. But Alan Greenspan made me shiver With every speech that he delivered Bad news on the rate front Still I'd take one more punt I can't remember if I cried When I heard about the CPI I lost my fortune and my pride The day the NASDAQ died So bye-bye to my piece of the pie Now I'm gettin' calls for margin 'Cause my cash account's dry It's just two weeks from a new all-time high And now we're right back where we were in July We're right back where we were in July Did you buy stocks you never heard of? QCOM at 150 or above? 'Cos George Gilder told you so Now do you believe in Home Depot? Can Wal-Mart save your portfolio? And can you teach me what's a P/E ratio? Well, I know that you were leveraged too So you can't just take a long-term view Your broker shut you down No more margin could be found I never worried on the whole way up Buying dot coms from the back of a pickup truck But Friday I ran out of luck It was the day the NAAAASDAQ died I started singin' Bye-bye to my piece of the pie Now I'm gettin' calls for margin 'Cause my cash account's dry It's just two weeks from a new all-time high And now we're right back where we were in July Yeah we're right back where we were in July

To: Jill who wrote (6800)	4/21/2000 1:57:00 PM
From: Tim O.	Read Replies (1) \| Respond to of 8096

One Head and Shoulders measurement is NDX 2300. It's not out of the realm of reality. Monday will be another nail-biter. Economy is still strong, so hopefully there won't be a Big Kahuna. I usually like to hold positions for a couple of weeks, but this market is too dicey, so I'm going for quick, small, hit-and-run profits. I'm also not hesitant to cut losses if a position goes wrong on me. Most of my short puts are about 10-25% out of the money, so when the market goes sour, I'll have to decide if I want to ride it out or cut losses. I've made some overly risky mistakes, but fortunately my short-puts gains this month are still more than my losses.

To: Jill who wrote (6800)	4/21/2000 8:10:00 PM
From: pompsander	Read Replies (1) \| Respond to of 8096

Hi Jill: Well, after about twelve months of selling selected atm or itm puts, I for the first time have some stock being put to me. I am amazed I lasted this long! On Monday I will be the proud owner of 400 shares of CREE at a cost of 130. Hey, I like the stock long term and we all live by that rule when selling puts, don't we? I was worried for a little while about my CSCO 57.50s and EMC 120s, but both stocks rallied nicely into expiration and allowed me to keep my premium. I again sold the CSCO May 57.50s and the June EMC 120s. Fewer contracts this time, though, as that is just about as much potential risk as I want to take until things settle out. Those two warhorses should hold up. I have enjoyed the discussion the past few days as the options market has become "two-edged", just as it should be in the real world. We learn as we go. Pomp