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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (56556)10/28/1998 11:08:00 AM
From: ViperChick Secret Agent 006.9  Read Replies (1) | Respond to of 58727
 
waterhouse

okay
here is something that just happened to me

for the first time ever I bought instead of sold something

was trying to sell my options and bought instead....

now if I had been using trade direct(phone ordering system) the trade wouldnt have gone through because the price was higher than the bid/ask..but the internet let it go through

and I didnt find out until I checked my order status...that I had bought those suckers ( I probably had them for an hour and didnt know it)

BUT the guy I talked to at the electronic brokerage area..went ahead and sold my mistaken calls for no commission either way and I made 1/16 on the deal...

I thought about holding because i think it would go up today..but then I said to myself..better safe than sorry and take your free 1/16 and be happy you got out alive from that mess

btw, the confirmation of the sell came back within less than 60 seconds on that trade....but we put it in under the bid at a break even for me



To: James Strauss who wrote (56556)10/28/1998 11:10:00 AM
From: B.REVERE  Read Replies (2) | Respond to of 58727
 
Jim, a/d ratio on this +50 move in the dow stinks. This move
and others the past two weeks were futures driven manipulation by the fed. If this were a " true " market move, you would see more advances than decliners, however the 500 index only covers "500", hence they
can't distort the true trend of this market and it's economy that drives it.

Later,

BR


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