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

To: Kerry Phineas who wrote (3123)	8/9/1998 2:23:00 PM
From: yard_man	Read Replies (1) \| Respond to of 5676

Kerry, I botched DAL. Had some Aug 125 puts there. Watched DAL rocket after first heading down on the news of a split. Got to the point I could recover most of my money -- instead of looking at what the other airlines had done and just being patient, I took a small loss. Those puts are worth over double what I paid now. Two lessons from that. I should have bought more puts when DAL went to 140 based simply on what the other airlines were doing (the thirds approach does work and very well, but you have to let the emotional part not cripple you). Second I should have held when things were going my way as all the other airlines were headed down: It makes sense to be aware of the whole trend for a sector. The strong ones may hold on a little longer, but they do follow the trend.