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To: Kevin who wrote (27547)	10/31/1997 10:39:00 AM
From: Nemer	Read Replies (1) \| Respond to of 58727

Kev: Thanks , as usual, for your figures. ------> I'm still convinced (at this point) that I should hold positions overnight if the trend is still intact. I'm curious if you have any method to back check on your overnight held postions and examine results with comparision to elimination of positions at close. It could well be that I'm a very poor trader but I kept track of my trades on the OEX for several years and discovered that the bottom line improved with my not carrying anthing OEX overnight. The last one that got away from me was Labor Day in 96 and it cost me better than 50% of my investment. I realize that sometimes the trends stays intact and potential profits are lost by closing daily, but when I tallied it up---I came out ahead by not carrying anything overnight. That could well just be me , but thought I'd throw it out for discussion at any rate......... Kinda like betting on horses-----I kept records for several years and found betting to win maximized my profits, no place, no show, just straight win only. Sure , I missed a lot of place and show payoffs, some of the longshots were double and even an occasional triple digit place payoff, but when I tallied up ROI (return on investment) win bets proved best for me. Just a thought, not a lecture..........ggggg Regards---Nemer

To: Kevin who wrote (27547)	10/31/1997 10:54:00 AM
From: j g cordes	Read Replies (1) \| Respond to of 58727

good Morning.. trading this market is like drinking champaign on a rolling boat. Yesterday there were 3000+ Jan 20 calls on CHIR. Anyone in this or have experience? I've traded this before, its getting some attention after a recent tumble and the ceo is a 69 year old genius, Dr. Rutter. Any mf or obv... block stuff, etc. Got out of IBM short calls yesterday on selloff, did well. BROD short 25 puts are doing fine and will exit or let expire. jim

To: Kevin who wrote (27547)	10/31/1997 5:51:00 PM
From: Leland Charon	Respond to of 58727

Kevin, I have also been following your support and resistence levels as I now have access to this information via the Bloomburg. Have you ever experiemented with the pivot points for the Dow Jones Industrial Average? We have a subscription to a service called the "Traders Faxline which is a short term trading newsletter that trades stocks, stock options, and the OEX. It is interesting because he trades the OEX off of the support and resistence levels of the DOW with great accuracy. Today he said to buy puts on a failed rally to 7480-7490 with a target (exit) of 7330-50. He also lists the parameters for buying calls. Yesterday he scalped the Nov 900 calls for a 3 point gain. He usually trades 20 contracts and is out the same day he enters the trade. I have been following his method for about 4 months now. It is really very accurate on an intra-day basis. He has been doing the newsletter for about 9 years now. It seems as though his Dow numbers correspond with the pivot points that I get for the DOW. Just thought that I would bring this to your attention. Let me know if you have looked at this before. Regards, Leland