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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Follies who wrote (47627)	5/26/2000 1:21:00 PM
From: Gersh Avery	Respond to of 94695

No .. not until next expiration. Although that is the end of the effective period. It just sets the direction of the maximum potential within that period.

To: Follies who wrote (47627)	5/26/2000 1:27:00 PM
From: Gersh Avery	Read Replies (1) \| Respond to of 94695

For instance .. it might say down. If it does then the index may travel both higer and lower than the pivot point established at that expiration. However the amount that it will move lower will be greater than the move up relitive to that expiration point. There is no guarantee* that the index would move higher. There is a guarantee* that it will move lower. *substitute "has taken place 100% of the time for the last 4.5 years" for the word "guarantee."