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

To: Poet who wrote (9640)	2/16/2001 9:08:13 AM
From: hobo	Respond to of 10876

Are you short calls? no i am not short calls (i closed a real good trade yesterday (it flashed on me how high NTAP had gone and then I caught the roll over of the QQQ/NDX chart so I decided to go for it. turned out a nice "day-trade" and as you know I really try to avoid those... however, in this case, the reason I wanted to close it is because I have no idea what the market is doing these days... one day up the next day goes the other way... the closing sell off was kind of a confirmation of that thought given that we had been up strongly only a few hours before... I decided I had a nice profit and said to myself why risk it? actualy i have a couple of short puts, that i knew already i was going to get "put on" plus in a way I wanted the stock anyway, so the put premium is a nice bonus. Today, I will watch and pay close attention, since if the market turns the way I thik it will go... then we will even go lower than the open so it may give me a chance to take advantage of a play... (as I write this, I am thinking NTAP again.... ) the premiums are nice and fat. probably on a "day-trade" basis again as it would make me nervous to keep it over the long week end. Trading this year continues to be good for me so far... I do not want to spoil my record ao I am being extra careful. The PPI number seems a little high... (i believe this Producers Price Index, tends to be somehow volatile... but even so... this does not help the case for lowering interest rates..) what a crazy market ! Ah... nothing like a good strong coffee in the AM... Colombian Supremo the best in the world ! Good trading Poet.