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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Brian Moore who wrote (12981)	1/11/1998 11:38:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 18056

Brian: I dunno, because whiplash is gonna be big this week. Techs were hit so hard on Friday I can't imagine they'll go much lower. (BWDIK?) I know that mid-month always seems to have a low around the 15th when Schwab kicks out its money-market dividends (weird coincidence?) Pick a price, don't sell at market.

To: Brian Moore who wrote (12981)	1/11/1998 11:43:00 PM
From: Elllk	Respond to of 18056

Brian You didn't ask me but I am in a similar postition in terms of monitoring the market and could have played it better last week by putting in stop loss orders. At my brokerage that can't be done longer than one day at a time although you can change during trading hours as often as you want. For this week its a tricky question although the good thing is it looks like you stand to increase the value of the puts a good bit on tomorrows opening. I think you have to decide whether you want to be conservative and take a pretty good profit some time tomorrow or take a chance that the market keeps going down for the week and hope to get a bigger profit. Of course, some think that the major earnings reports which begin this week will bring the market back and Byron Wein says he has the market undervalued for the first time in months (or years). Right now (11:30pm) I can't imagine you won't have some appreciation in the puts after the opening. I would suggest checking their value as soon as Jabil opens and putting in a fairly tight stop-loss. If the market and Jabil continue down, keep tightening the stop-loss. As we found out in October, rebounds as well as drops can be vicious. If the market heads south rapidly you won't get taken out anyway, most likely. If you keep stop-loss tight and get taken out at a good profit, you can watch the comeback and decide if you want to re-enter the Jabil puts at a much lower price if the rally seems to wane, and at the least you will have locked in a profit. Also you might check the Jabil chart for the next support area and be prepared to move the stop-loss up very tight when Jabil gets to that area (or use that to help set a price if you have no time at all during the day to check the market) unless you decide to take your chances on a big down week (which I wouldn't). Larry