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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (6876)	10/21/1998 9:55:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Don, I think that from a day trading stand-point, the best play is still on the long side--just a question of where the best entry would be. I was glad that it weakened yesterday afternoon --- the OEX had got as high as 532 and I was holding naked 535 calls. Well, I took advantage of the sell-off to short an equal number of the 500 puts--and have taken in a total of over 20 points in premium-- so now my break-even point would be 555 on the upside and 480 on the downside. In the meantime if it stays within the 500-535 range, the premium should continue to erode. Re Maria--she is attractive--but she has an awful shrill voice so I mute the sound when she is on -- one of these people who are meant to be seen not heard:)