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

To: Jdaasoc who wrote (16603)	5/25/2001 8:52:55 AM
From: mishedlo	Read Replies (1) \| Respond to of 30051

I am almost entirely cash 97% or so. Made a little on PMCS puts. Got out of MSFT even. Down a lot %wise on everything else. I am not convinced this market is going down. EVER Obviously that can not be but the evaluations right now on VRTS, VRSN, CIEN, KREM, etc etc etc are about as silly as silly can get. FNM has consistantly sold off above 80 and there are buyers at 75 or so on every dip. Right now I have decided to play this channel with 2003 in the money leap puts. Yes that is a lot of premium but so what? On any dip to 76 even if it takes a month to do it (with that much time it will not matter) or so I will sell half for a 30% or better gain. On any rise back above 80 I will reload. I will not be in a position to trade soon, for a period of 6 months. This is probably just as well as I have been doing nothing but going sideways. I accepted another computer consulting job, this one will have me on the road for 6 months. M