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To: Robert Rose who wrote (54691)	10/4/1998 10:48:00 AM
From: donald sew	Respond to of 58727

Robert, >>>>>> One question I have often wondered about: Why do you only initiate puts and never calls? Your strategy is more understandable in this bear market, but even in the very bull phase from Jan - Mar 1998, you often chose to refrain from writing puts rather than choose to write calls when that would have been quite profitable. <<<<<<<<< I have bought some calls, but you are correct I have been mainly playing PUTs since the spring. Contrary to what many think, I have only been doing this type of INDEX TA trading since MAY of 97, and simply put I was still learning. During the strong runup for JAN-APRIL, I got many CLASS SELLs signals which reacted to the downside but very little. My problem was that I was unable at that time to determine how strong the uptrend was, just as some may be underestimating the strength of this decline. Since then I have put in place new indicators to help me determine the real trend in order not to get chewed up by poor/weak signals. If you recall, I did give a CLASS BUY signal on Thursday to obtain at the LOW on Friday, but I normally have a rule that I dont go long in a down market, and short in an up market. For the time being I am more of a position trader than a real fast day-trader. Once I feel comfortable with day-trading I will then go in both directions in any market. Seeya