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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (5794)	4/14/2001 9:26:51 PM
From: Lee Lichterman III	Respond to of 52237

>>not sure why you would be doing anything right here except booking profits and considering some shorts<< In an earlier post I said I would be buying LEAP puts as a hedge. My view is we are in a wave 4 counter trend rally before the final 5th wave. EVERY bear market has had sizable wave 4 bounces that retraced much of the decline. Since we are swing traders trying to play the short term moves, at least I am trying to catch as much of each move as possible. To a long term investor, I would agree that this is not the time to be buying with a multi year time frame in mind. To us short termers though, rising each wave up and down is what we live for. The long term trend is down, the mid term trend is arguably up for now since we just completed a higher low and a higher high in this last cycle. Until that higher low is breached, I wouldn't be net short. By playing LEAP puts and averaging in as the climb progresses, I can catch a bit of the short term pullback, but if I am wrong, I can still profit from the retest months from now assuming my read is fairly correct. In the mean time, my LEAP calls can make some money on the climb towards 2000-2200. Each of us has their own strategy, this is just my screwed up way of doing things. <gggg> Good Luck, Lee