To: Cyrus who wrote (19853 ) 9/3/1998 4:10:00 AM From: IQBAL LATIF Read Replies (3) | Respond to
I was looking at various posts on my thread- the globex is down, DAX is down but my global indicators are giving me a no panic indicator, my feeling is that Globex is a highly manipulated market, also please look into this case I make every day about pit rumors-- now look back in this yesterday I wrote go long 990 and short 1017 we came back from 1015 high-- for me the trade was to buy puts and calls and thats what I did, nearly 10 my time we were finished with the positions, we closed out our long calls as well as long puts, just never occured to me that I should run it to the end-- for me as pits fully agree we want to see a base building possibly here or at higher level corresponding to 8600, now lot of read is made out of yesterday close but imagine it was planned that manner even when market opened they wanted it this way--I am not a magician to be able to nail the market every day within ranges, even major falls can be discovered as pits tend to go long at a certain point and withdraw at a certain break of support or resistance. I am questioning if this is the move close of yesterday I mean, a technical move how come pits told me that this is the probable action and that is what they plan to do. Forget about my morning post a day earlier I pinned down these levels at my late night post. The issue here is that we need on daily basis to develop a strategy of converting some of these tips into $ accounts, the intellectual pursuit of where is the bottom can be in parallel pursued with equal intensity. To finish things off why not to buy 5 time the size of your exposure puts at 900-- and try to make some money out of this range movement, why not to go ahead and place some money on the long puts if things look so bad, I would anyway do it below 955 but if one wants peave of mind not a dear price to pay.
