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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (27314)10/28/1997 8:08:00 PM
From: Brad Hill  Read Replies (2) | Respond to of 58727
 
Hey Tom--I'm betting you're right about tomorrow's trends. I followed Kevin's indicators this afternoon and bought a single SPX call (big spender, I know) which I'm nervously holding overnight. If Asia recovers somewhat and the S&P futures hold at present levels or higher, i expect tomorrow's market to be jerked upward at the open. Then it's profit-taking time quick before the retracement.

I hope you're right for the same reason you do--I want more time to find good entry points for mid-term and long-term option positions in some of the tech companies that have gotten throttled.

The larger, longer term question is what the markets will be like from this point onward. The chic commentator attitude says that the days of 20 percent annual gains are over. What I wonder is whether the volatility is over. If the market really smooths our after this trauma is finished, I'm concerned it'll take option MMs some months to adjust premiums downward accordingly, and during those months we'll all get burned. This is a question that's been lingering in my brain for a while, and now seems the time to ask it.

-- Brad



To: Tom Trader who wrote (27314)10/28/1997 10:24:00 PM
From: donald sew  Read Replies (2) | Respond to of 58727
 
Tom,

As you are now aware I truly attempt to keep my analysis as analytical as possible.

It may sound really corny, but my GUITAR is a quantitative analysis of multiple 2 dimensional data (x,y).

It is now telling me that we are at maximum probability that there will be a retracement. As to the size of the retracement I am still uncertain.

As I indicated earlier the market is still technically unhealthy.

Good luck


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