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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (37465)	3/23/2001 8:45:34 AM
From: Cabo Eddy	Read Replies (1) \| Respond to of 50167

I am short and I was begging for a rally! Index put option premium was so high it was limiting the amount one could make by being bearish. It's been a great 2 weeks and we need a nice bounce (hopefully near DOW 10,000) to get major short again. Just for your info, not all who are bearish get creamed on a reversal. I was talking yesterday about support at DOW 9200 (your call at SPX 1080 was better) and I implemented a "Reverse Ike" strategy by buying 3 times my short position in index calls (my first call purchase in a month). I would love to see a rally here, dump the calls, roll it into puts, and then back down hard. Please don't get overly positive here, that would be way too premature. There was also too much call buying yesterday. We will head back down, I just hope I can pick the right spot to dump my calls.