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

To: Bull RidaH who wrote (17545)	4/28/1998 4:49:00 PM
From: RWS	Read Replies (1) \| Respond to of 94695

David What do you mean Duke WAS? Hell, it's one of the best dungeons I've ever visited. As long as Jim's head keeps leading his tail I think the puts look good. (g) And today the OEX sure is way ahead of the SPX on the downside. I added near the close on the bounce, now up to 80% in SPX May 1080 puts. Lost 2.50 on the call trade today. Ratan I'll try to find a reference for you on EW counts. But the wave count alone is insufficient to use EW. First you need to watch the ocean a while, like Steve McQueen on that prison island in the movie Papillon. Then you need to read a book on it. Then you need to lose a bunch of money following someone else who is using it. Then think about it some more and watch the waves on the ocean some more. Then read another book and all along while you're doing that stare at SPX chart patterns every day. Hope that's helpful. RWS