Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Mary A Young who wrote (6918)	10/21/1998 12:24:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Mary, I agree with Don Sew's scenario that we should have one more push to the upside before we start down in earnest--if that is going to happen any time soon. The momentum on the upside was too strong -- and that argues for it. As far as position trades--if you are referring to long OEX options, I don't know what to say because the erosion of premium and changes in the VIX, causes things to get distorted. The puts that you hold are looking good more because of the increase in the VIX than the price movement that has occurred. Also watch the BKX--it is weakening appreciably and if that accelerates then we could see a much sharper sell-off. If the BKX breaks the 714.82 level today, the sell off in the other averages should accelerate. Needless to say, I reserve the right to be wrong about all of the above:)