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To: pater tenebrarum who wrote (108568)6/14/2001 12:56:41 AM
From: mishedlo  Read Replies (1) | Respond to of 436258
 
you may be right...but i still have to anticipate, not follow...i'm not a trend follower. can't afford to be in options, as you have to beat all sorts of slippage.

Tell me about it.
I have gotten crushed mising the first downdraft for weeks and weeks when all there was a first downdraft followed by a rebound. Then two weeks later a retest where I lost two weeks of time (yet that was my only chance to bail for anything at all).

Further out QQQ's would have given me a chance. Not as expensive. I see why pros don't trade the garbage right now.
That said sure would have love dto be in JNPR when it warned.

I am as light into puts as I have ever been. The rest cash.
That should be your sign that we are going down hard. If I get very very lucky and we have another big down day tomorrow, I have some JUNs that might bring me something other than right out at expiry price for a fat zero.
Going out further here with Sept QQQ's. Nicely above water but nowhere near enough of them.

On a big bounce off 1600-1700 I will load up the boat with calls rather than fighting this garbage like I did last time.

M