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

To: bonnuss_in_austin who wrote (9977)	3/10/2001 9:52:31 AM
From: mishedlo	Read Replies (2) \| Respond to of 10876

CIEN and RIMM are two of the biggest POS's left out there. That said. The direction of the index is far more important than the "absurdity" of the price of any particular issue IMHO. A rising tide will lift all boats. Therfore the question remains, with all the bear gloating that is probably going on now, with the way they like to JAM us up during options expiry, with people believing the maxim "Don't fight the FED" are we going to get a bounce soon or not. Zeev is usually right on these regards and hopped in 80% long on Friday. Like any trader however, he can and will occasionally change his mind, but the "turnips" have been correct on the last 5 turns. PS. Turnips is an inside joke. Others read tea leaves, Zeev jokes about reading turnips. I closed out all short positions on Friday and went long a basket of calls, all small positions. OOPS, I take that back I still have a small basket of financial puts in case of a major storm. One idea I was toying with was short term calls with longer term puts but the prices on RIMM and CIEN are so high that I do not think it is worth it. The contrary position to this options expiry jam, is that with those 3 days of futures ramps, and obvious distribution that was taking place, there was plenty of time to hedge and maybe we do not get that options expiry ramp this time. The counterbalance to that argument is easy as well. GREED! If they can make money both directiosn they will do it. So there you have it, you tell me. We have to rally sometime, other than that manipulated ramp, we have not really seen a rally for a month. If we rally, rest assured that they will drive CIEN back to 80 or perhaps higher, and RIMM could be good for another 10 points to 50 or so. Those are my thoughts and as you can see I simply threw some questions back at you. I am playing for Greed and Insanity. Both are rampant these days. M