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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (25693)	10/23/1998 4:58:00 PM
From: SeaViewer	Read Replies (1) \| Respond to of 70976

Looks like the beast is going to close at or near the low of the day. Should be a key reversal. Did you get the puts? It closed in the middle of the trading range today. I don't know if this is a reversal or not. I bought puts today, purely based on high RSI and upper bollinger band. Jeff

To: KM who wrote (25693)	10/24/1998 5:39:00 PM
From: Jacob Snyder	Respond to of 70976

No, didn't buy any more puts. Too scared. I think I'll watch a bit, and see if the stocks stall. I'll be comfortable buying more puts about the time nvls is back down to 29, :) or :(. Every day for the last week I've been saying, "this has got to be the top", and every day I've been wrong. TA wasn't much use, was it? I think we have a selective memory, and only remember the times when it did work, which gives us a false sense of its reliability. The puts I bought when nvls was at 29 have lost 2/3 of their value. However, I now have more cap gains (unrealized) in my amat leaps than the entire initial cost of the nvls puts. My hedge is keeping my net gains to a minimum. I'm thinking of selling the puts for the tax loss, and buying other puts, at a different strike price and expiration. As I understand it, I don't have to wait 31 days if I do it that way. Only my accountant knows for sure. Live and learn, or at least live.