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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (36596)	1/21/1999 2:32:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 94695

Bonie Bear change your Quote service. Went long now and covered longs with close to the money calls and wrote some puts for a pop of the end of month ritual. Money inflow is to strong for my taste to stay short. BWDIK Haim

To: Bonnie Bear who wrote (36596)	1/21/1999 3:30:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Hi Bonnie; I'm sung as a bug in a rug. Went short 200 MDY, 400 XLK on the open, at 11am I shorted 100 DIA, I have my finger on the trigger to buy 400 SPY IF she starts up, and may do it at the close any way, but the shorts will ride until I see a turn around , one buy order on the SPY will hedge me and lock in profits, & I can leg in and out of her, if things go up I can close the shorts incrementally, and let the market tell me which ones first. I got this figured out about a month ago and payed a visit to my broker to find out exactly what I could and couldn't do, and have been waiting for a day like this to put it in action. ---------- I'm handicapping the dogs for tonights program, and may go to the track. It's iffy on my going long the SPY at the close but feel that would handle any tricks they might play tomorrow on the open..and will buy me some time so I'm not wiped in and out of my shorts. ----------- Broker says I can't get shares to short the internuts so this is next best thing. On top of that most internut stocks can't be traded via the net right now..you have to call in and getting trough is tough, I can do a buy on the spy via touch tone if the web goes down..so I got my arss covered. ------------- Side bar plays are CMO..( I'm just holding with calls sold ) FP bidding at 2-5/16 also holding at that, and a long shot on SNBC as a take over play on a hunch. That's it, the rest is in bonds and will stay there for a bit or maybe a long time. I'm trying to curb myself from stock picking and play the SPDR baskets and mutual funds. Don't let any one tell you small funds haven't made a run, they have kicked butt since SEPT..but that seems to have turned around for now..heck some of them went up 50 to 85 %. Most all of them beat hell out of the Large cap funds. ( in that window ) Sept to a week ago. ------------ The Dow looks sick, and over half gutted. T and IBM holding it up the most..today the tail got a bump with UTX but her internals look ragged out. Do people really think that all the blue chips can sell off, and every one will retire off the Techs. No way it can hold the way the rotation has been. Jim EDIT.. just looked and went long SPY..should not have taken my eye off her, and should have hit her 30 min ago. That's it I holding right were I'm at till I see what tomorrow brings.