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

To: James F. Hopkins who wrote (26437)	9/4/1998 12:28:00 AM
From: Follies	Read Replies (1) \| Respond to of 94695

Captain, I applaud your posting of trades. It takes cajones, (not Kahunas and BTW how come Joe K.has become the Kahuna? Is he just a chicken ass lurker on this thread?) Thats why I like the BK Game. I can see where bobby b and vitas and David P have cast their lot. I sold a 995 Sept SPX put (SXBUS) today at market (33). I was in at 27 so it was profitable but I could have gotten 40 all day (well at least twice). The rally at the end of the day was so strong and fast I thought there was news or something. Maybe it was the black helipcopter PPT team! So I lightened. The market looked funny today. Most of the time the futures can wag the dog. Anytime you go over 3-5 points away from fair value the futures will lead the SPX into new territory. twice today, late in the day, the futures premium was negative for a while and the cash didn't budge. Maybe the volatility has scared off arbitrageurs but the downward pressure didn't work at 979 and 976, the cash held up against a lot of futures selling.???????