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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (5949)	1/5/2001 9:03:47 PM
From: UnBelievable	Read Replies (1) \| Respond to of 19219

Yep - I'm now pretty much even with where I was before AG decided I needed to make a contribution to help improve the economy. <gg> Now a good portion of the loss and the gain was in the value of the inventory of puts. And its a funny thing about way out of the money puts. Even though the underlying's price today was where it was Wednesday morning they are not worth quite as much. What a difference a day (or three makes). <gg> Also if AG decides that he wants to have more fun before I turn the puts over I'm dead meat. But I did get some fills on puts Wednesday that I would never would have gotten if we didn't get our one more time for the old times blast from the past on Wednesday. That and shorting a couple of the trash 30% gainers at the close Wednesday enabled me to end the week a happy man. Except I'm a scared chitless happy man and am leaving enough on the table to feed a family of five. But at least adding a little more uncertainty and volatility of the market has delayed for a little while having to decide how I'm going to make a living when this thing actually does stabilize and stocks go back to moving 10% a year rather than a day. I didn't put any shorts on this afternoon, though, which on the one hand seemed like easy money given the close at the lows and the way in which resistance seemed to express its lack of concern about fighting the fed, but I was concerned that the same idea had crossed the mind of a number of other "investors" and any weakness on Monday might be obscured by MM induced short covering. So that probably means we gap down first thing Monday morning to the current "bottom". LOL One of the guys I picked up a few tricks from told me to fade the bulls when they are rockin and fade the bears when they are rockin. I think he had a point there.