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To: Nemer who wrote (46863)	6/25/1998 11:40:00 AM
From: Lee	Respond to of 58727

Hi Nemer,..Re:<<but the time to get out is >>before<< the big move if it's in the wrong direction for you..>> That's happened before too. If you don't get out, which I didn't, then starts the finagling to offset everything. Besides the sold call, also holding puts, so when the market moves the OTHER way, quickly go buy further out strike calls, dump some puts and pray. This happened in April '97, fortunately the calls I sold were Sept. and it eventually worked out but it sure got complicated before working out.<VBG> Owned long puts, long calls, short calls. Sure makes for bad sleeping at night! But with imagination, anything's possible, right? Regards, Lee

To: Nemer who wrote (46863)	6/25/1998 2:04:00 PM
From: Nemer	Read Replies (1) \| Respond to of 58727

Lisa -- here is what I've posted today and all of them are pretty well on the mark..... at 11:26 ----->>>>the BBx said that SPX needed to penetrate 1141.75 pretty soon (now) or it will hold as resistance for a tad (30 min) ....or maybe longer -- currently trading at 1140.59 within 10-12 minutes more or less 1142 held and SPX headed south at 12:23 ----->>>>the BBx signals have been altered some so the fairly large gap (1135/1142) is to reflect the trading range expected until the next signal --- The 1141.75 that I'd posted earlier today is still a strong resistance point and should hold for another hour and a half , or longer ...... at roughly an hour from then the trading range listed was penetrated and SPX headed south at 1:44 ------>>>>SPX 1134.50 currently trading at 1134. xx (waffing between . 20 and .35 ) BBx has it as new pivot point time frame now currently trading at 1133.58---- BBx has just sent next time frame potential forecast as right after bond close ....... hope this helps ------