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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (9227)	1/22/2001 10:40:22 AM
From: Lost to Voodoo	Read Replies (2) \| Respond to of 10876

Hi Poet & thread - my grasp of the market continues to be a bit dim at the moment & it could really go any way (including sideways) but just a note of caution that we have been forming a potentially bearish wedge since the beginning of the month which could take us down at some point. Unfortunately, I can't really even say how far down - normally wedges can take you near the base which would be the NAZ lows, but we have gotten above some potential supports, so it could only be a few hundred points or so, esp. given the Fed meeting next week. And at the moment it looks like we may be forging higher, so who knows...but just something to watch for... Oh, BTW, sorry to hear about your debacle with the merged options - sounds awful!

To: Poet who wrote (9227)	1/31/2001 10:00:02 PM
From: dli	Read Replies (1) \| Respond to of 10876

Poet, sorry for taking so long to respond. I've been rather busy lately (work on my thesis and other stuff) and haven't had much time to spend on SI. My trading is going well. Today's market really followed the textbook to the letter. I picked up some MNX and PMCS puts in the morning and took advantage of the early selloff in the DRG to add some MRK and PFE calls in anticipation of tech weakness. The drug rotation trade has been one of the most reliable trades recently. In hindsight I should have taken larger positions but I was concerned that this scenario was just too obvious. Dave