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

To: Barbara Barry who wrote (16190)	4/13/1998 12:30:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 94695

barbara there is the subtext of rumors of fed tightening and the fed taking action for a client...presumably Japan ...in selling treasuries... this is what is spooking the market...according to cnbc at least... supports for SPX Message 4044532

To: Barbara Barry who wrote (16190)	4/13/1998 12:51:00 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 94695

Barbara, during the weekend I think I posted that on expiration week usually the market is ratteled by the major option writers, e.g WS to get the most of the profits from writing options (puts and calls alike). During last month we had a very decent uptrend, so they sell stocks, take profits and also collect the premium on the option they wrote. In general terms we had an over 10 points on SPX and NASDQ rally Thursday, so now we have a selloff of same magnitude, regardless of the reason. The sell-of my continue tomorrow and then it will reverse leaving all those put buyers with worthless contracts. That is the name of the game - collect the premium. Only outside factors can disturb this game - so do not bank on this scenario. I am not playing index option, I am not so smart to make money on them!! BWDIK Haim