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To: Dnorman who wrote (51043)8/28/1998 1:07:00 PM
From: donald sew  Respond to of 58727
 
INDEX UPDATE - intraday
--------------------------------

Closed my position near the lows, and looking to reinitiate today, just a small position in case the market pops up on Monday. I will try to identify the high for the day, and if it is positive I will reinitiate a PUT position. Please keep in mind, it will be a small one since we can still go higher on MON/TUE, but I dont want to take the chance of it getting away from me if Monday dumps, which is not unlikely.

If I see a 800-1000 positive TICK and if we are in positive territory, I will reinitiate a small PUT position.

Please keep in mind that I indicated that any rebound should be small in the 150-250 range, and since we went flat, it already rebounded 150 points.

Seeya



To: Dnorman who wrote (51043)8/28/1998 1:11:00 PM
From: donald sew  Respond to of 58727
 
MOMO,

DOWN-MO reading at .71 and UP-MO reading at .59, just slightly in favor of DOWN-MO. Do feel that if we get a nice upswing in the TICK we should get into positive territory on a intraday basis.