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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: CYC who wrote (50059)	3/6/1999 1:39:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

CYC, I have a gut feel that we reached a buying climax Friday and the consumer debt numbers reported after the close bolsters that feeling. Since that is how I feel, I have taken my 2-4 month option lifeline down to slightly below the low end of that range. I think the crash will be soon and violent. I have X dollars to put into long options under my 90/10, and this time I am opting for more options and less time. I don't always go that way and it is always a tradeoff. If I have profits in my Marches of 50% or so, I will probably roll them out. The Aprils I will stick with a bit longer. However, I am more likely to roll doubles nad triples on Aprils than I am on Junes or Julys. The general idea is to not buy a put or a call unless I expect a quadruple (a regular exception to this rule is options on closed end funds, which don't move that much and where the options are generally cheap). I tend to hold for the quadruple minimum unless the clock starts ticking too loudly or, the one fact that overrules everything, the fundamentals look about to change. I rarely take as little as a 50% gain unless perspiration is imminent. MB