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Pastimes : NNBM - SI Branch -- Ignore unavailable to you. Want to Upgrade?

To: elpolvo who wrote (688)	10/30/2000 3:09:03 PM
From: elpolvo	Read Replies (1) \| Respond to of 104157

if i'm in tune... i look for the NAZ to come back up in this final hour to finish near even or a little bit in the green. -tao

To: elpolvo who wrote (688)	10/30/2000 5:13:30 PM
From: Clappy	Read Replies (2) \| Respond to of 104157

Hi eldude, Looks like QCOM probably got pummelled because of the GSTRF fiasco... They are a major investor in G*. Loral said that they would no longer help fund them anymore. GSTRF dropped over 60% today. I haven't checked all the results, but I'm sure that paper trade was a flop... Basically, my halfass TA was telling me that QCOM's indicators looked like QCOM could gain a few points today, due to a MACD crossover, etc. NOK had previously enjoyed a nice run up that was losing steam. It's volume was drying up. They also have a large gap below them. Therefore my thinking was that if the Markets both rose, QCOM had a better chance of gaining more than NOK. If the markets fell, NOK had a better chance of falling. Then I figured that the largest exaggeration in price change would occur in the Nov. Calls and Puts. Thinking about this more now, I begin to think that if I sold Naked calls on a stock that I believe will fall in the next day, the decay of the Nov Calls would probably aid in causing a greater jump... The same would be to sell naked puts on a stock that I like. Of course, using the Nov calls are too risky. As you can see, I would have gotten burned... It would also be more difficult to repair than if I used Dec, Jan, or later calls. Any how, I figured a straddle like this may be a way to play the market on days where the market TA isn't easily read, but an individual stock's TA is. The hard part is finding the stocks with good indicators and the ones with weak indicators. I thought I found them, but obviously was wrong. I'll try this again the next time I find something that I like. I'll post the results of today's paper trade in a little while. -ClapOff