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

To: Daflye who wrote (18765)	3/18/1999 10:26:00 AM
From: Arik T.G.	Read Replies (2) \| Respond to of 44573

I'm holding index March ATM puts from yesterday. Premium being eaten alive. The SPX should quickly get under 1304 for me to keep holding. ATG

To: Daflye who wrote (18765)	3/18/1999 10:26:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 44573

Daflye, Well there was a gap down this morning and it closed very quickly. Someone overnight wanted out...... Yesterday the markets bounced around and off 1304 SPX all day... I will take a position on that signal and the T-P at 10:30 and 11:00 will confirm my choice.... The expected 2-3% sell-off has not been confirmed by the markets....yet The traders we are watching have been doing this for years and I quess their intuitions often determin points of sellng or buying. After all part of successful trading is PSYCHIC The Big Kahuna thread has been bearish for sometime and others are looking at cycle positions and others see a failed attempt at staying above a psychological target of 10000. I believe the major players are using 10000 to break the backs of the dumb money....smart money well sell off here to pick up new shares lower down for another run at 10000. This may go on until the perverse thinking of the major market players have had enough fun playing with the mouse.....could take weeks. Chip

To: Daflye who wrote (18765)	3/18/1999 10:49:00 AM
From: donald sew	Respond to of 44573

Daflye, I really had no idea last night how today would trade, in light of triple witching. Early this morning the futures were down about 9, but now the DOW is still positive. Im trying to find some clue as to the direct for the rest of the day. The TICK is right now slightly negative but the DOW is slightly positive, which implies a slight upside bias. But the TICK is trading, so far, in an extremely narrow range from only +200 to -200. I just dont think the TICK will stay that tight for the rest of the day. My understanding is that the MAX PAIN for the OEX is now around 640, and if that is correct, I am more leaning towards a downside bias later today/tomorrow. I spoke to most of the brokers I know this morning, and most of them are still buying and hardly any selling, so do we go with the contrary since the downside would benifit the least. I just added a little more to my PUTs, nothing big - just picking stocks which are giving me CLASS SELL signals. Seeya