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

To: Pierre J. LeBel who wrote (25980)	9/1/1998 8:16:00 AM
From: Philipp	Read Replies (1) \| Respond to of 94695

Hi Pierre: I agree. If one expects the market to go down 20 %, premium should not matter in the first place AND, as you say, it will actually go up much more. I am just trying to be careful and be safe in case we don't have a meltdown (I actually also hold some protective calls). Writing options is, of course, another possibility. I got all my puts on the Friday rally in addition to the ones I have been accumulating for a while. What a gift! I only paid half of what I expected to pay Thursday night. The alternative is to play it safe: cash and buy stocks on the rebound (that is what I did in 87). Addendum to the globex futures: while an hour ago there was a sudden change up, there has been a sudden change back down in the last few minutes (not a good sign). Have a nice day as well. Phil