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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (27959)	8/18/2000 7:26:23 PM
From: adcpres	Read Replies (1) \| Respond to of 42787

Lee, What I meant concerning a buying opportunity was that IF the market volume slows going into the FOMC and one "feels" good about the FED not raising rates, then if things drift down on Monday, one might be able to buy and ride the pop Tuesday afternoon. I was not suggesting anything longer than a few days. Lately I have been playing CIEN, VRSN, ITWO. The CIEN AUG 185 PUT options(UEETQ) were just wild today. Went from $7 and change down to under $2 back up to $10 then down to $4 and at the end of the day, back up in the high $7 region. Managed to sell mine near the top. CEIN gave a good ride yesterday and today. I just LOVE this market so long as I don't get caught on the wrong side of the moves. Uncertainty in the what the FED will do and future earnings worries is good for the volatility in the high PE tech stocks. I am not so much a general trend watcher - only to the extent that overall market worries and euphoria may entice the buyers of CIEN, ITWO, etc. to react irrationally on news, earnings, phases of the moon etc. As the proverb states: "May you live in interesting times" which we definitely do now. I used to trade very heavily back in 1993-1995 and have been completely out of the market until May 2000 -- yes, I missed the greatest BULL market in history but, I find it possible to rack up 5%-10% on a trade today over the coarse of a few days whereas back 5 years, I was lucky to get 1%-2%. The movements in this market are wonderful -- greed, fear, and hope are alive and well! As for inflation, I agree with you wholeheartedly. Housing prices on the front range of Colorado have doubled in less than 5 YEARS. I rather expect the FED will be forced to raise rate some more(maybe not TUES) before year's end which ought to give us a great selling opportunity. It just kills me that that trillions of dollars ride on the reporting of PPI or CPI that changes by .1% --- come on now, can sampling of the economy be that precise as to make .1% statistically significant? Or for that matter accounting practices that reports EPS to within 1 penny of what the street wants to see. I grin at the market's love affair with possibly statistically insignificant numbers. Its wonderful that the collective wisdom of the market is so irrational as to allow us to make and loose money on its fickleness. Bring on the rate hikes! LET THE GAMES BEGIN. Have a good weekend. GH