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

To: donald sew who wrote (33801)	1/21/1998 9:28:00 PM
From: Electric	Read Replies (1) \| Respond to of 58727

Don, Very very interesting.. I as you know am in IBM calls as we speak, but I feel certain that by the expiration date, that I will be just fine. Do you feel a certain inkling as to which index/stock you are looking to get into and a target for the puts? Please let me know this evening as so I can valuate the position and decide the entry point You are totally correct, the Naz down 2 was suprising, but dont you think that on the back of great earnings (MSFT beat as well) that the NAZ wont see much of a drop? Where can I see the futures on a stock? Thanks!

To: donald sew who wrote (33801)	1/22/1998 1:44:00 AM
From: Dwight E. Karlsen	Respond to of 58727

don, I'll admit I opened put positions in 4 stocks today. All but one surged up in the last hour, while I was busy w/clients. No biggie, because I've learned to be patient, when I think the odds favor my position. I waited until just prior to 11:00AM EST or so, and when the DJIA wasn't coming back but instead weakening, I took the plunge wth DJIA at -78 or close to that. I would classify yesterday as "euphoric buying", and today as "buying w/reckless abandon". -G- re All of the HiTech indexes are now overbought severely and most of them were CLASS 1 SELLS to be obtained at the highs today. Needless to say I highly agree. I'm not a bear, but since the October "grey Monday" late 1997, stocks have ALWAYS pulled back (sometimes quite abruptly) after reaching the current overbought status. True enough, that we could have as you say a trend up instead of "range trading", but I think MSFT & IBM put the kabosh on that for now, with their comments on "murky-to-flat" senario for next couple qtrs. BWDIK, besides how to touch hot stove-tops. DK