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To: Electric who wrote (29391)	11/24/1997 3:56:00 PM
From: Kevin	Read Replies (1) \| Respond to of 58727

>>>What is your exit point here, will it take a fundamental move above a resistance point to make you exit?<<< I will stay in the position as long as we stay in the bearish trend. I'm still developing a solid exit strategy for this system. It depends where the index lies b/t the points for when I'll exit. If we break below 3 supports tomorrow, I will not wait for the neutral zone to exit...trust me :-) >>>all puts were overvalued, in my analysis this means alot of people are buying them, and your margin is lowered (supply and demand) the leverage on the position was 1-2% only for each move. Does this affect your decisions at all, do you factor in anything other than get ting in??<<< I don't let this affect me, and I do not consider it when buying puts. My main concern is to enter a position. Some may argue that the 455 puts were better than the 460 based on delta, theoretical price, blah blah blah. This info does not concern me when I'm trying to get into a quickly moving market. Know what I mean? Hope this helps. Kevin