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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (13784)	2/2/1998 7:09:00 PM
From: James F. Hopkins	Read Replies (2) \| Respond to of 94695

Bill if you didn't do anything today you lost money. Buying puts may be OK..but on what ? The people selling them are not exactly fools..look at the premiums. Now shorts will rush the market you know that, and if they don't get her down below 8000 by Friday they will get eat alive next week. Puts in an uptrend..you got to be darn good to even break even. I don't think that I know it. They always get more ( time premium ) during the uptrend. The sellers lose alright, about 15% of the time. The buyers lose about 85% of the time..and the time it takes to scan them and dig for the good ones I don't got much of. CNBC had on some bears today, trying to talk the market back down, making out like a new all time high on the S&P wasn't nothing, hoping aginst hope that they wouldn't have to cover their shorts. Even the stocks that didn't start up today, sort of laged behind..wound up later getting their share too. The only sector that didn't rally was the drillers, and boat cos..that was stupid on the part of the FUNDS..as most of the boat cos have 2 year contrats locked in ( they remember what happened to them the last time..and insisted on long contracts this time.) that's what the market don't know in respect to them, and may not figure out for 6 more months. I didn't have time to get some TMAR today..but will bid it tomorrow. Every thing I bought Friday was up. I even went in and out of MDEA today for a profit. Friday picks that I did not have enough powder to burn on also went up..CPRO MBRK PCIG along with MDEA all were beat up and crushed stocks..at book value or below..they all went up..percetage wise more than the S&P did..it took this to kick start them. I could only bet on one and picked MDEA ,but CPRO beat it with about a 40% move, were my MDEA only went 15%..I would have liked to have covered them all. ( not just book value each one of them had just about as much cash as the price was ) Scan for stocks below book.. and with good cash..you may have to wait a bit but you won't lose hardly ever. Jim