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

To: William H Huebl who wrote (18779)	5/19/1998 11:26:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Well; the way it is I won't disagree on a move up, but if it does it won't be enough for those poor suckers who went long this morning to get out with much profit, ( take off the cost off trading ) they are going to have to wait a while and become investors instead of traders. I know the feeling & have been there more than once. I guess what I'm mostly saying is that with the premium on OEX calls it's not a good bet...but heck I don't see the puts as a good bet either. We seem trapped in to narrow a range to make index options worth a flip. Next few days should be up slightly if you look at the trading range , but I don't see enough up side to exploit before we head down again. The last two weeks I tried trading long and buying dips was just prior to April 20th..and I was having such a hard time just getting out even I couldn't understand it, then that thingy hit me on the 21st and I said no wonder. I trade cheap, but with the spreads and all you can't come out right now on the long side unless you hit every bottom and every top just about right on the head, and that just aint going to happen. The computers are too fast to beat, and they trade cheaper than me. On top of that internet trading is not all it's cracked up to be. Somehow when the best trigger points seem to present themselves the servers have a way of going on the blink, and if it's really hot you can't get an answer on the phone with the discounters, and for sure you can't short term trade using a full service broker and still make any thing after commissions. Jim