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To: Patrick Slevin who wrote (35999)	3/5/1998 2:06:00 AM
From: MrBluff	Read Replies (1) \| Respond to of 58727

For the record: my no-brainer theory predicts that INQGQs and INQGPs will retain substantial value throughout the day tomorrow. I intend to sell them naked and cover one day early next week. (the theory worked fine with CEIN) FWIW Someone tell me how to post without responding to an existing post.(please)

To: Patrick Slevin who wrote (35999)	3/5/1998 6:07:00 AM
From: donald sew	Read Replies (3) \| Respond to of 58727

INDEX UPDATE ---------------------------- With the Intel news, it is obvious that the market will not be preatty at the open. Already have heard that quite a few may be buying long positions on the dips tomorrow. Technically, the market needs to consolidate, whether it was INTC to spark it or not. As previously indicated, the support area is at 8200-8300, and with the INTC news it is quite likely that such will be met by MAR expiration date, if not earlier. Then the next question is whether it will hold or go lower. Just in case, the next 2 supports are around 8000, then 7800. I am not saying it will get there now, at least not yet. In light of such, if one can obtain MAR puts at or above DOW 8450, I feel that is a safe play. If there is some sort of intraday rebound, it should be taken as an opportunity to obtain PUTS, not to go long. The bottom of this cycle should be around expiration, and the market should attempt a rebound at the end of MAR into the early APRIL and wait for the actual earnings to come out to set the direction. I do not believe it would be unwise to just be prepared in case of a much larger drop. In other words, the odds will be against you to hold out for that addition point on a long position, so take the profit when you can get it. What are the good PUT positions for today. Obviously the SOX will be down substantially at the open. Here are some NAZ indexes which may not get hit that hard at the open YTK - caution, this is the strongest NAZ index of them all EGI IIX Here are some of the DOW indexes which are still at/near their highs: XAL - could be influence by the price of crude oil RLX IUX RIX HCX PNX DRG BKX - influenced by interest rates XBD UTY - influenced by interest rates I am looking at thhe XAL, RLX, YTK, EGI for the moment. I still have my DJX MAR 84 puts, which should be coming back to life. Seeya