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

To: Hans who wrote (27446)	10/30/1997 9:56:00 AM
From: Kevin	Read Replies (3) \| Respond to of 58727

Bought OEX 870 puts when my signal was triggered. Unfortunately, the index and futures both rebounded and I piad the alot for them...$31 a piece (and they're now asking $29). Oh well...let's see what happens. Kevin

To: Hans who wrote (27446)	10/30/1997 10:50:00 PM
From: Autumn Henry	Respond to of 58727

Hans, just a psychological theory I have that I seem to notice or think works often when a stock/s go down.....when investors/traders see a stock down at a low price that is "shocking" like some of the prices on early Tues. morning--- it's like that price gets imprinted in your mind. I feel that happened with INTC some time back when it really fell that one time. Even though it rebounded that day and the techs did I thought.....hmmmmm.....there is something about seeing a stock hit a low number that breaks your belief system about that stock's price. It "opens your mind" to that price. You then think that you want to get that price yourself "on sale".....why should you pay retail when you know that it can go "on sale" in a price you never were able to consider until it happened. I know the technical term is "retest the lows" but I put it on a shopping/psychological level to understand it for me. Therefore I am saying unless the funds cannot hold themselves back from buying on their often annual year end stock buying phase-- I believe "they" will hold out as long as is humanly possible to drop everything a low as is possible. I am suspicious of the downgrades of dell and cpq today....makes me think they are not going down "fast enough" for the November shopping period. I think the semi's will have a somewhat miraculous/all is well/the patient will live recovery too----ala the Wall Street Lazaras Syndrome.......it was done well with the networkers this summer and I fell for it then....... So what I am saying is that I am not surprised the market didn't hold and go up. Also there is a widespread desire on the part of Wall Street discussed over and over that people want a real correction with the attendant signs and they didn't get that on Monday/Tues.....so there is that itchy feeling of dissatisfaction left out there. And add the probable real uncertainty of Asia and now South America and bonds doing well in the "flight to quality" syndrone...... Just forming my thoughts on paper. Course it is not a "lousy day" if you were short! Autumn