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

To: Arik T.G. who wrote (17957)	5/5/1998 3:49:00 PM
From: Chip McVickar	Read Replies (3) \| Respond to of 94695

Hi Arik You are persuasive Arik....the case for selling is compelling, but this could have been said at any number of points along the span of this long run-up since 1982 (David's super cycle 5th wave). Since the crash of 1987 and the recovery of 1988-9 a trend of mass pschology has dominated the markets.....growing more powerful and pulling in more and more followers. It has been well documented here..."buying-the-dips." Everone here knows it only too well. The players and the investing environment are still intact. Today....I do not find any reason for this to end....not yet. But with that said I ran across this quote recently....maybe on this thread. Paul Samuelson (Nobel in Economics) " When everyone is insane, It's folly to be wise." So....I do not want to be the wise one left at the corner news stand. However, I am not yet ready to sell everything. Hedging conservatively is worthy of some return value against a serious decline and I was hoping it might be of interest to others. Although most successful option traders work their magic on a shorter term basis. They might have some opinions on how to best apply conservative options. Chip