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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Electric who wrote (16435)	10/7/1998 12:54:00 AM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 42787

Have you guys looked at WFC for puts....On a gap up this one is a layup...my buddy bought the gap up Oct 310 puts this a.m. for 1 3/4 and sold 3 hours later for 5 1/2...The banks are really hurtin technically and we will get these chances on puts esp gap ups....I'm in tomorrow if we gap... B*

To: Electric who wrote (16435)	10/7/1998 1:07:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

Have you had a chance to look at the options weighting. It seems to me that we need to go up if for no other reason that the put writers to ba able to cover their positions. I am so far behind, I haven't had a chance to do it myself. I really believe we are either going to tank hard and get it over with or else we will be up next week. The only chink to my plan is that DELL and the other PCs finally started to crack today. I thought they would be left alone so the average guy wouldn't catch on to what was going on underneath. I think so many people are thinking down right now that we are going up soon. Not long term but enough to unwind puts, re-establish shorts and get everything lines up for the final BK. I just think there is enough good news that they finally have a cover story to mask manipulation and get prices higher to finish dumping. How many funds are profiting from selling GTW at 40? Why not say the IMF money will help, Japan is finally going to do something etc and then rally up a few hundred on the DOW and sell GTW at 50. Then after expiry, dump whatever you have left hard since the Russell, Transports etc are already dead, services, banks etc are also dead. YHOO earnings will be over and there will be little good news left. This would allow a few weeks for the shock to wear off before DELL earnings come out and we can say everything is alright now and resume a longer climb out of the abyss. Mostly ranting but everything I see says up short term then the big fall in 2 weeks. I think I will just do a straddle in the AM. I was going to do a kamikaze anyway today but had a meeting and missed the trade. Even though KEA is still be sold heavily, I think I am going to get some KEAEEs if I can get them when the stock is under 29 and just sit on them. It may not be the bottom but I will only buy a few and save some powder for later. They report next Thursday and I think they will bounce. Probably a really stupid trade but what the heck. I wouldn't recomend following my lead as I may chicken out myself at the last second <g> Plan on offsetting it with an AMZN put pplay once they bounce on YHOOs earnings either tomorrow or Thursday. This way I will have a straddle for next week. BWTHDIK Lee