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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (2885)	7/6/1998 8:44:00 PM
From: set	Respond to of 5676

> SAFE one for POOOTS on the ride down??. ha! safe. AMZN is moving so fast that options on it are really second derivatives. but that's the very essense of the illusion that keeps it going. SEEK puts are at least priced for reality. I'd like to buy zqntt. but damn the stock went up over 10 points today the puts hardly got any cheaper. tscn.com tscn.com don't know what to do. there's already a lot of potential energy in the open interest. put sellers could not afford to let the stock fall too fast, assuming they can do anything about it. In this case I think it's safer to put long after it turns. Shahar

To: bobby beara who wrote (2885)	7/6/1998 10:13:00 PM
From: bobby beara	Respond to of 5676

More wavy gravy: The internet is where it's at, just dawn your propeller beanie and place those buy orders -g- After looking over the charts, I believe that we are completing in the next day or two wave 5 of three, off the early June lows on our favorite Yahoo's. That would mean that we would be in for a 3 or 4 day correction in the nets (after this peak) before the next rocket ship to Yahoo 280. Wave 5 of 3's are notoriously misread as peak 5 rallies. Would like to see less volume at the peak rally. XCIT had weak relative volume today and might be a good short candidate when the time comes. This would fit the April pattern exactly, with a small sell-off here and a final pooooooooosh to the peak. If the timing was like April, that would put the market peak in late July. MSFT earnings are on the 16th, another important date to watch. BWDIK I sold my KLB, my ELNK, my AMZN and Yahoo calls last week arrrrrrgh. bb