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

To: Jan Johnstone who wrote (753)	11/26/1997 3:10:00 PM
From: Sleeperz	Read Replies (1) \| Respond to of 1598

>>>Rolling Stones gather no moss!! People are going to be losing a lot of moss once this market starts rolling downhill!! Golds, banks, the rest will surely follow !!!<<< All canadian Resource stocks have been trending down since the Summer. Only the financial and retail stocks have been holding the market up. this is the first time the banks did not shrug off the interest rate increase by the Bank of Canada. Anyone know when the next Quebec election is? Separation woes again. NTL is up today in a down market. Bounce UP tommorrow? cl

To: Jan Johnstone who wrote (753)	11/26/1997 6:11:00 PM
From: Porter Davis	Read Replies (2) \| Respond to of 1598

Options update for 11/26...one hit to the body(keeping the riff going) What an ugly market. I sure wish Bell would've puked like this last week since I was long 380 Nov 42s and short stock one-for-one. Oh well. Loss of opportunity is better than loss of capital. Bell had a $1.60 range today before closing near the low; pretty toppy action in my experience. Clients are hammering the 45 line...we've got them cranked down pretty good so look elsewhere for selling. (26.5,25) ABX followed bullion down with a vengeance today. With gold closing at 12 1/2 year lows, it's hard to see much of a bounce. Clients took profits in puts today, which somewhat helped my position, but we really need some call sellers. (44,40) Inco sold off after reaching $25.40, closing at 24.55. Again, pretty ugly action. Ballard was up today for no discernable reason. I had forgotten that the 2.50 strike interval goes all the way up to $75, so we had 72.50s added today. For the second day in a row, my equity trading computer stopped working. This was the case for about 1/3 of the traders on the floor. I can't wait to see what will happen when they try to bring in fully automated trading systems for options and futures. Not only is it a totally stupid idea, they can't even keep their systems running. Happy trading. Porter