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To: waverider who wrote (2305)8/31/1998 10:21:00 AM
From: Lucretius  Respond to of 14427
 
there will be some weak rallies, much like what we've seen on the way down where we rally for 4 or 5 days but basically go sideways. I don't see a significant rally until early Nov, and by that time we should have seen lows around 4000 before a real rip roaring rally up to around 7000. Buy L-T puts and just HOLD them.

-Lucretius



To: waverider who wrote (2305)8/31/1998 10:21:00 AM
From: drsvelte  Read Replies (1) | Respond to of 14427
 
That was one short rally!! I tried to be fancy a catch CCI on a bounce up, but it reversed so fast I lost 1 in an eyeblink. So much for being smart and agile.

However, I did short AMZN, DCLK, and JPM.



To: waverider who wrote (2305)8/31/1998 10:31:00 AM
From: Alias Shrugged  Respond to of 14427
 
Hey DH,

AMZN and AOL looooookin' Goood!

WMT - I have Sep 70, 60 and 55 puts. I hope to sell the 70s today.

HD - I am short Nov 32.5 calls (sold at 13.75 last week) and have Sep 40 puts. I will somehow cover/hedge the short calls.

CPQ - have Sep 32.5 puts - will sell some of them today hopefully.

The Rally - IMVHO, we rally when the shorts feel they need to take profits and the longs on the side see really good buy-in points. That point is lower.

Mike