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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Proton who wrote (42565)	5/14/2002 11:44:47 AM
From: IQBAL LATIF	Respond to of 50167

I was not very smart in cashing on my hedging, I got out a day earlier from the puts made some but not good enough, but yesterday rally and todays's retail is helping the long side and I am now re-establishing the puts just to cope with this extraordinary voltalitiy- it laways pay and if you always keep completley out of monies long ones like three months out in this uncertain world that is a good menu also, out of money but cheap and lot of them, that helps to pay for loss in long calls on a down day. <That would be a violent rally in the SOX, 25%> already we have seen a nearly 11% move from that 488 level.. I think chips were being sold on basis of AMAT rumour that they will come with good numbers and with poor guidance, after the revisions from key brokerage houses SOX came up nicely from a thrid dip, I would think it is mostly going to be a technical move from oversold positions.. lets watch thanks for BTK guidance. I have strong opinion on S&P 1128 level because with CSCO retail numbers and chip situation and the drop of S&P to 1050 nearly thrice without breaking it a test of top 1128 is a technical must. I will look at btk closely..