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Strategies & Market Trends : Stochastics -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (870)	10/20/1998 4:16:00 PM
From: Cathedra	Respond to of 927

Wayne, thanks for your great advice. When NASDAQ started to slow down this afternoon, I bailed out of XCIT at $32 1/8 and wrote Nov. $45 CMGI call for $7. Both were mediocre trades, but (as you suggested) better be safe than sorry. I did make a risky move, buying Nov. $105 MSFT calls at $3 5/8. (Another mediocre trade.) Let's hope that MSFT will have good earnings and forward statements and stock will revive a bit. I am thinking about flipping the MSFT call proceeds into MSPG: what would be a good entry point?

To: Wayners who wrote (870)	10/21/1998 3:35:00 PM
From: Cathedra	Read Replies (1) \| Respond to of 927

Wayne, I sold my MSFT Nov. $105 call this afternoon at $4 5/8. The earnings report and forward statement were so positive that I was looking for a pop to $106-107. Little did I know I should have sold at the open at $4 7/8. Nowadays I try not to act greedily, although sometimes I still can't help sounding greedy. I apologize. I also shorted MSPG at $34 3/8 because it failed to break $35 1/2 in fairly heavy volume. This is reminiscent of the general market action yesterday. So, I am guessing that both the general market and MSPG will go into a short term pullback. If that happens, I hope to cover at $28-29. What do you think?