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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Ms. X who wrote (12605)	1/11/1999 8:42:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 34824

I am sitting in the lotus position doing the zen thing with Ticht Nhat Hanh guiding me in the background with those breathing exercises sending out the positive vibes for my eggs We are in a new paradigm: +John Pitera (3645 ) From: +John Pitera Monday, Jan 11 1999 4:26PM ET Reply # of 3691 Cramer has a small pearl of insight about the high cost of The street.Com Internet Index options DOT PUTS --NO THANKS By James J. Cramer 1/11/99 12:09 PM ET You want to know how hard it is to hedge your Net positions? Friday, options expire. I have been watching this DOT index, as it correlates perfectly with the wild stuff I am seeing on my screen. With five days left, I always have an appetite for cheap puts, and one thing I pride myself in is knowing where puts should be given the risk, reward and time elements. So, I figured, with the DOT at 535, I might be able to sock in some DOT 500 puts for a cheap shot and a selloff and some protection to the downside. Hoo-hah! Not only is there no 500 put, but the January 495 puts are at $50. That's ludicrous. That is just nuts. That's insane. The February 500s are at $87! That would be the biggest single overpay I have ever been involved in-after 20 years of trading options. What can you get for 3 bucks? Try the January 450 puts, 84 points out of the money. That doesn't protect anything. Or, to put it in a way everybody can understand, you have a $535,000 house. For $30,000, you can insure it for a week, but there is an $85,000 deductible! No thanks.