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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (5378)	6/15/2000 1:45:00 AM
From: Lee Lichterman III	Respond to of 7434

Agree with your points. I just checked out the Max Optimum strike ( not allowed to call my way of doing it Max Pain) and though I cant' get a clean read on the QQQ I have the OEX still down around 775 to 780. We need to drop 10 points which is contrary to the way things are looking so far. Worse yet, the more we go up, the more it hurts the call writers as there is little put activity up here and plenty of calls open. Did you see the post on the TRIM Tabs report at MDD? Post 54195. it states we had outflows this week, that margin debt is still up near historice levels and other nasty type news. The only bullish thing I saw was that J6P is getting out of high growth which means it may be safe to buy again soon. My play list for tomorrow is about 50/50 long versus short but most of my longs are still DOW stocks and not Tech. I didn't like the gravestone doji on the OEX and SPX either, good things futures are up. -gggg- There was an analyst on CNN tonight that had a pretty good line, he stated, " They make money the old fashion way, they Churn it" And don't they, what ever is hot today is a short in two days. Not sure if I will short a morning spike up or wait for the pull back and then go long or all the above. <gggg> I have only been on vacation 3 days so I haven't got the hang of day trading this stuff again yet. I am still pretty rusty. Today was better but I was still a bit slow due to being tentative and missed a good one by about 3 seconds. I have plenty of time. Hope your short isn't hurting too much. You in futures or are you expiring Friday? Good Luck, Lee