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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Joey Two-Cents who wrote (8406)	5/5/1998 9:30:00 PM
From: clochard	Read Replies (1) \| Respond to of 18691

The Nikkei is -400! Maybe that will scare the Dow even higher.

To: Joey Two-Cents who wrote (8406)	5/5/1998 9:42:00 PM
From: George Acton	Read Replies (1) \| Respond to of 18691

Thanks for the suggestion about puts. I'll have to check the prices -- the premiums will probably soak up half the gain. Or find a better broker. This is the first time I've been seriously disappointed with Schwab. With millions of shares being traded, I'd expect them to come up with a few thou. An added annoyance was that the customer guy told me it was "at two not long ago". This is misinformation -- and it really shouldn't matter if the stock is at 49. Schwab recently decided my account was big enough to qualify me for a special number. I've been a customer of theirs for about 10 years and was pleased with the normal service. Maybe I should apply to get my peon status back. It's also annoying that before I decided what to do, I wrote a note to the medical writer on Cramer's service commenting on the science and Kolata's take on the story, and he asked me if he could put it on their site. So now other people are making money on my comments while Schwab says they don't have shares to lend. --George Acton

To: Joey Two-Cents who wrote (8406)	5/5/1998 10:23:00 PM
From: Momo Dog	Respond to of 18691

Joey, about puts...I play options fairly regularly and bought some puts yesterday on ENMD...but dig this cautionary tale: I got the Aug 45's @ 12.375 when the rotation opened. Bid/ask flickered around almost as fast as the stock price. It made no sense so I had to figure the option specialist was only guessing. Anyway, by the close of business, I was off 3/4's or so. Today, though, the stock closed off 7 and change and my PUTS were DOWN 5/8. I paid up for volatility and still think these puts will pay off but in retrospect I should have stayed home for another day.