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To: TREND1 who wrote (29111)2/28/1998 1:16:00 PM
From: Patrick Koehler  Respond to of 53903
 
Larry, I agree - I post here to check on you and DavidG, as to what is happening in the next few hours, not weeks or months.
In regards to the last earnings report, and the "discussions" on this thread about FA vs TA: In December, I ignored the TA and my computer, because, after all, the earnings were going to be lousy, and then TK piled on also. How could I lose. I had 50 puts, and I did lose! I will not allow that to happen again.
Did you notice my note to John regarding options? I am going to slow down on option trades. Disregarding dollar value or % return, it is much easier to make money on, say a 1000 shares than it is 10 contracts. The stock is $30 roundtrip + 1/16th spread. The options commissions are about $75 roundtrip at about $4, plus a 1/4 spread.
Add to that, the fact that I don't trust the MM, especially larger volumes like 25 or 50 contracts at market. And I'm not talking the 1/4 point out-of-the-money type like Skeeter. I'm talking 10 grand or more per order.
I noticed that you mentioned trades up to 5000. I've checked most online services, and most or all clip you on volume above the 5000, by charging on the full volume. 5001 shares could cost $150 or more in commission.
Patrick
PS: I am still biased to the downside now, with the downward channel that MU is in, but looking for a buy signal on Monday and a bounce for maybe one day. Hope to go long then, and be back short at mid to late in the week.
Skeeter might even make money on the Apr 30 puts, and I will have to eat crow.! <gg> I expected the top in mid March, but the recent 39 may have been the 1st qtr high.