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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (43338)	5/21/2001 10:39:34 PM
From: ajtj99	Read Replies (3) \| Respond to of 56535

I have some decisions to make the next couple of days. I'm holding VVTV June 20 calls right now. If they don't move tomorrow, I may have to sell them to get some QQQ June 48 puts at $1.30 or so. I think they could be sold for double the money in a few days. My VVTV is at $0.70 bid x $0.95 ask. If VVTV breaks through resistance at 19.25, it should go to 21. That would make my calls worth about $1.50 bid. If that happens tomorrow, I'm selling. If it doesn't, I'm selling also most likely. Earnings are Wednesday, and VVTV normally sells on news. The fact that the market may not move up much Wednesday also helps solidify that decision for me. If the market gets close to resistance at 2388, I expect a swift sell-off, possibly led by computers. That would make QQQ puts pretty lucrative, although possibly only down to the 2250 resistance level (around 48.50 on the QQQ). I think if we don't hit 2388 the first try, we bounce back towards 2250 and make another assault on 2388. If it cannot be penetrated the 2nd time, it's possible we drop below 2250 to around 2100 on the pull-back, IMO.