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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (10117)	8/2/2004 10:12:00 PM
From: mishedlo	Respond to of 116555

Bear in mind I have a few puts. Known risk. Quite a bit different that being short futures, although I sure wish I was the latter. I have March 05 320's. I think we MAY see 340 or so reasonably quickly and after that I do not know. At 340 I think I can unlaod one of my puts for a triple and then the others will be free so to speak. That is my plan. Perhaps if we fall to 340 I can write a short put for 6-8 points against my 320. If I can get 6 points for a 300 put then I will be in a no loss position with a chance to make 20 points. Whatever I do I really want to hold one of the damn things naked until Jan or so. On the charts I see a drop to 340 as I said. If housing slows there is no reason we can not over shoot to 300 or so. Mish