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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (1485)	3/13/2001 12:49:58 PM
From: Think4Yourself	Respond to of 23153

Just sold my MSFT for a significant loss in a few days. IMHO this is a very weak rally given how far we dropped in the last 2 trading days. using proceeds to buy select energy plays at a huge discount. Have a feeling of deja vue from about 6 weeks back. All I need now is for a NBT to tell me how stupid I am.

To: Tommaso who wrote (1485)	3/13/2001 3:57:19 PM
From: energyplay	Read Replies (1) \| Respond to of 23153

Dow puts - I usually try to understand the person on the other side of the trade. With the DOW put writers, I have 3 theories (actually 2 1/2) 1. The writer thinks the interest rates will decline sharply, sending the Dow way up by December. I think this explains why there is a premium in the price. Since these are European style, the Dow can dip during the summer as long as it comes back by December. 2. The writer shorted the Down when it was higher , then wrote puts when it was low to capture the gain & earn interest on the cash. Being Euro style, the writer doesn't have to buy until December. 3. The writer wrote puts on the Dow and bought puts on Nasdaq or QQQ, figuring on reversion to mean of the P/Es. The Dow P/E has be about 24-30, the Nasdaq P/E about 100, and the NDX & QQQ >> 100. The writer's exposure is also on the less volitle index. Tommaso : Broker mixed up on longs and shorts : Sounds like your broker can't read... which one is this ?