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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (13960)	11/11/1997 7:30:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I still think that market needs to decisively break 910 support- I will think market to trade in range today will test 918 on the low and a potential of 938-42 area- shorting this market can be dangerous however if a big swing is anticipated by some on the down side some Dec 870 puts on S&P can be a expensive but a sure insurance, the premiums in that particular strike will erode fastly above 842 and will accordingly increase if 910 gives away- market is about a certain manifestation of overall economy many a times before people have misjudged this market and played it from the short side- I think market is showing strong resiliance at supports and if market is not prepared to crack on bulk of negative news there is no reason for market to crack on back of extreme negative sentiment on SI or for that matter in general public0 the inflows this month are intact the situation in ASIA is slowly coming to normal even Brazil and Latin America is showing some signs of stability overall economy stays on course the only short plays I see is some out of the money coverd some puts on banking stocks in anticipation of below 15000 Nekkei and buying some S&P puts for Dec 870- for me these puts can even be partially financed by selling some Dec 800's. I have seen this kind of carnage many a times and until some basic fundamentals tell me that picture has changed I am not going to be bearish because every one else for me market has to show me the direction from here lets see a close below 910 and we may see potential of lower tests of 6800 but at the moment I just don't have that visiblity.

To: Arik T.G. who wrote (13960)	11/11/1997 5:57:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 50167

Arik; RE:"I recommend writing (INTC) call 80..." ...probably sage advice, Arik. I've only begun to trade/invest with options this year, but I am an avid student (which is why I like to hang around this thread). I wrote calls when things started to tank before the end of last quarter - worked OK, but was a hassle keeping up with all of them. Recently, I've become interested in simply buying PUTs on the market indexes (but have yet to do so). Sadly, I have been compelled to sell a lot of equities, and take the short-term capital gains tax bite, as I am too proud ( and have too much Scottish blood ;-) to endure -$5,000 per day hits to my net worth during these intermediate DownTrends. LU and PAIR really tanked today. I have difficulty reading that sector - what do you make of the telecomm / networking stocks ? -Steve