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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Eric Jorgenson who wrote (13724)	11/5/2002 6:07:39 PM
From: mishedlo	Respond to of 30712

We are already delta hedged long. I doubt that further delta hedging will add much, unless someone buys hundreds of thousands of options ahead of CSCO and they beat. Even then, they could decide to sell the news for a change. Thus I doubt we see a ramp job like last expiry. That does not mean we head lower however. If everyone refuses to sell then we just keep going higher like EXPE, no matter how insane the picture is. I keep saying, the higher we go now, the lower we get cause they are sucking out every possible buyer here. I am huge short and not happy at all, but much of it is leaps, the rest 2-4 months out. M