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

To: Patrick Slevin who wrote (7667)	11/2/1998 1:43:00 PM
From: Jerry Olson	Respond to of 44573

Ah YUP!!!!!.....:>}

To: Patrick Slevin who wrote (7667)	11/2/1998 1:56:00 PM
From: Tom Trader	Read Replies (2) \| Respond to of 44573

>>Trying to make Tom spill his coffee? Actually, I was eating something when I saw OJ's target and I almost choked! Well, I'd sure be out of the OEX option writing kick if that happened -- but then long before that occurs, I'll have done something to hedge the position or would have closed it out. Between the VIX declining and the time erosion that has occurred those calls are currently trading at 1 point more than what I sold them for -- and the OEX was at 530 when I sold them and it is now at almost 545 -- so that is the reason why making money on the long side of OEX options is so difficult. The way the OJ indicator works is that when he starts waving his hands, there is a big move in the offing and one should take what he says very seriously -- when he frantically waves his hands it should be viewed as a contrary indicator!! What I need to figure out is if he is currently in a state of frenzy:) My buy point on the futures for a day trade is now at the 13-15 level