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To: skinowski who wrote (68873)	3/18/2003 11:02:02 AM
From: byhiselo	Respond to of 209892

lol, i hear ya...its only 2 puts but as jesse would say, i gotta play with money not paper -g EBAY april 85 25K calls vs. 3k puts cheers

To: skinowski who wrote (68873)	3/18/2003 11:28:24 AM
From: Shack	Read Replies (1) \| Respond to of 209892

Aren't you on the slopes yet? If you don't go to Colorado the terrorists have won.-g

To: skinowski who wrote (68873)	3/18/2003 11:36:02 AM
From: Perspective	Read Replies (1) \| Respond to of 209892

Holy cow - look at equity P/C - 0.39! cboe.com That's really giving me the itchy trigger finger. May have to remove the safety... BC

To: skinowski who wrote (68873)	3/18/2003 11:55:41 AM
From: Perspective	Read Replies (1) \| Respond to of 209892

Was reviewing 1991 scenario. Even in that rally, the initial price movement was completed in 36 trading days, in a clear five-wave advance. Dow actually led this leg, and was then followed by Nasdaq. In those 36 days: DJIA: 2450 -> 3000 +22% NASDAQ: 350 -> 475 +36% avg. 1%/day Naz continued on another month, to 515 If we are in a similar wave structure, we are probably still within wave 1. However, I think the wide anticipation probably shifted much of the price movement into this wave. 1991 had only one clear short-covering all-aboard kind of day, a 4% pop in the Dow, accompanied by a similar 4% pop in the Nasdaq - ie no chasing the speculative issues. Contrast that with this rally's clear flight to trash. We've already popped 17% on SOX, 14% on NDX, 12% on COMP, 11% on DJIA, 10% on SPX. Since SOX has replaced DJIA as the blue-chip "safe" index, I would suggest that the price movement on it will top out first. The safest ways to fade this would be short SMH with a long SPX hedge. Naturally, this is a reversal of what I've been doing - shorting non-tech, with a QQQ+SMH hedge. <ng> Thoughts? BC