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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (3980)	3/4/1998 10:39:00 AM
From: Ploni	Read Replies (2) \| Respond to of 18691

Subject: AMZN I'm hoping for further erosion today and tomorrow, and think Friday may be a significant down day with the employment report. (Actually, with all these layoffs, the employment report surely can't be inflationary, but sometimes the market moves on Friday for no special reason.) If that happens, I'd look to sell my puts on Friday, for two reasons: one reason is that whenever we have a significant downward move, the "buy on the dips" people come out of the woodwork, and with puts I can't wait forever for a prolonged downturn. The second reason for selling Friday is that the near-expiration puts will probably open lower Monday morning just because of the time value lost over the weekend. Well, I've planned the trade. Let's see if the market cooperates, and if I trade the plan.