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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (15226)	5/1/2001 2:00:26 PM
From: Jacob Snyder	Respond to of 30051

re: Why these and not shorter term? Shorter-term would be more risky (= more aggressive). The main problem with options, is that you have to be right in a specific time frame. With puts that have many months to run, I can wait to be right. Of course, they cost more. As of today, I am 70% long (stocks), 20% put LEAPs, and 10% cash. So, my puts really just make me neutral the market. I'm playing the volatility, as I see the markets continuing an extended period of high volatility with no net upward movement. I sell into any rallies, and will buy (cautiously) on pullbacks. I used the April rally to unload my MSFT, and half my QCOM (limit orders at 60 and 65 cleared, 70 and 75 haven't, I may reduce the remaining orders to sell all at 65.)