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

To: ajtj99 who wrote (43541)	5/25/2001 6:57:10 PM
From: ajtj99	Respond to of 56535

E-wavers are calling for a down day on Tuesday. All indicators seem to say we're going down short term. If the futures get close to even or green, I'm re-buying my QQQ June 48 puts at open at market if I have to. If I hadn't closed my puts today, they would have lost 20% of their time value over the weekend, or $0.30. Even if we limit down on futures Tuesday, I'll be no worse off than if I'd have held. Out the bid/ask spread of $0.10 at the worst. It's a calculated move that has maybe a 50/50 chance of paying off, IMO. We'll see.