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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (80700)	7/22/2001 6:57:14 PM
From: BrooksR	Read Replies (1) \| Respond to of 99985

Bobby, I'm just getting started with straddles. Have you done many? Any suggestions? Brooks

To: bobby beara who wrote (80700)	7/22/2001 9:26:09 PM
From: t2	Respond to of 99985

the st is cloudy, that's why i posted my strangle (not straddle) position on orcl if you look at the ndx chart we have been making a bee-hive around the downtrendline since independence day, if you look at some big caps drivers like orcl and dell who have been going great guns off the mid june oversold low, they are both consolidating now at gap resistance off the april high. my feeling is that we have already failed to breakout of the trading range and that we will revisit the bottom of the channel, if orcl fills the breakout gap here i will have a decent profit, with low-risk. I decided to go with a straddle on the QQQs. Thought about the stangle but am betting on some major near term move...either direction (although expecting downward). The market seems to have been in the trading range for too long...it seems due...maybe even get a March/April type of move.