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

To: HairBall who wrote (23106)	8/3/1998 2:19:00 PM
From: Oeconomicus	Read Replies (2) \| Respond to of 94695

LG, re the utilities, the trannies don't seem to care. Perhaps we are seeing more hints at the R-word. BTW, options fans, if you think the market will be flat to down over the next 2.8 weeks (to Aug expiry), what do you think of this? Bear spread on the SPX, long Aug 1170, short Aug 1120 puts, net cost approx. 31 points right now. Intrinsic value at current levels or anything below 1120 is 50 points for a 61% gain in a flat or down market to Aug 21. Still profitable up to 1139 (before commissions). Thoughts? Bob PS: BWDIK? This is not a recommendation. Etc.