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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: IceShark who wrote (22079)	9/28/2000 4:46:10 PM
From: maceng2	Read Replies (3) \| Respond to of 436258

IceShark, do we buy the dip I had previously looked at the homepage markettrak.com and it did predict an up for a three week projection. Anyway, I'm keeping an eye on those links. I have an option question for you. This is a slightly long post so please bear with me.-g- No need for a hurried reply. Back in March I wanted to buy some poots to hedge against my clownish tech stock positions I had. So I opened a Etrade account specifically to do that. I actually had margined positions at that time but... reading the clown killer thread at the time, and advice from Luc persuaded me out of my margin. Big Thanx BTW. I came across the clown killer threads by typing in words like "crash", "melt", and "DOWN" in a general SI search. Funnily enough thats how I picked them up...Lucs posts in particular. -g- So after loads of messing about with paperwork Etrade gave me "options level 1" capability. I immediately tried to buy some poots as it looked to me like crapola was going to hit the fan and I would have liked some insurance. No such luck I needed "options level 2" to that. What a pi**er that was. Nevermind. Found out yesterday that Datek now offer options. I have most of my lottery tickets with them and immediately applied for options capability. Just read an email from Datek that said they only do "Long Options". I suspect that means I won't be able to buy poots on my long positions. i.e you have to own the stock to sell calls, and I presume you have to be short a stock to sell puts. i.e you can't buy calls (for example) unless you had the stock and sold calls in the first place. Similarly for poots. Do I have this right? What is the fastest way for me to get where I want to be... That is an ability to buy poots to protect my long positions when I want to? Any comments appreciated, Pearly.