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

To: Kona who wrote (38647)	3/18/1999 3:35:00 AM
From: Lee Lichterman III	Respond to of 94695

Not sure but I know there will be some unhappy option contract writers if the Asia mess doesn't hold it down tomorrow. Looks like the most contracts would expire worthless if they can keep the price under 180 on Friday's close. I wonder if the option writers will give a downgrade to counter act the split news. It is sad really that as I looked for short targets tonight, every good put target I found was near it's Max Pain point or had it the other direction from where the chart says it should go. I learned a long time ago not to bet the way a stock should go but against where the most option contracts would expire worthless. I have the BKX bank sector index falling to around 840 but the most options will expire worthless around 870. I won't be surprised if there is some bogus news release that holds it up until Friday's close, then the sector will tank to 840 after expiration is done. April puts are too pricey for my small account. SEC is a joke. Stocks move up 50% before news is released and no one asks why people over paid for a stock before the news. Like it takes a rocket scientist to figure out someone knew in advance. Before AG cut the rates last October, trading started trending up for no reason. Sure the big banks didn't get a tip to cover their shorts and go long. <ng> Asia weighing heavy so far as even the NAS finally gave in and futures now show down although only a smidge on light volume. I still haven't found my play so I guess I am stuck on the sidelines again. Good Luck, Lee