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

To: The Perfect Hedge who wrote (38287)	4/5/1998 9:52:00 PM
From: j g cordes	Read Replies (2) \| Respond to of 58727

Beeble.. Don's got Tues/Wed for the rollover, his looks very similar to mine and I've been accumulating puts. With cash inflows continuing to pressure buying its not going to be a floor falling in all sectors, there will be downside leadership and some sectors that safe haven benefit. On Friday close, OJ and I exchanged a quick note on Monday being down because 9000 failed to hold. There's an old book "Never Sell Stocks on Monday," by Hirsh.. which points to the statistical probability of Mondays being down days. The odds are tempered only by confidence being near their highs which is contrary... though put/calls are ok. There's no question that the market is extended in most every measure and the opportunity is much greater for the next 200 points to be down than up. Given that 200 points down will just start to dent the weekly rsi's and stochastics, profits might be easier for the futures/cash programs to accelerate and really scare some managers who have a full yearly profit return 16%-18% about to go up in smoke. They'll dump to keep their profits... and make room for those new trading curbs. We should have sold off in Feb, sold off in Mar.. but we haven't and its just made it easier to go in the opposite direction for awhile. Jim