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

To: Barbara Barry who wrote (21459)	7/10/1998 7:07:00 PM
From: donald sew	Read Replies (1) \| Respond to of 94695

Barbara, I have not initiated any new puts since my last PUT spread which will most likely go worthless, for the same reasons you mentioned. All my short-term signal showed extreme overbought for THUR and the market reacted nicely only to retrace about 1/2 of the decline today. so are we back to the JAN-MAR mode when my short-term signals were good for a whopping 100 points on the DOW. Who knows. Since we will be in expiration week the options are getting cheap. Also next week should have nice volitilty as it did the last 2 days, so I will be playing strangles starting Monday. Through my initial research, just on the OEX, it appears that a 5 point move in either direction, within 2 days, will do better than breakeven. If you can get a 4-5 point move in either direction in the same day, which is quite possible, that would easily give a breakeven position. Seeya,