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

To: Jorj X Mckie who wrote (15965)	3/19/1999 8:58:00 AM
From: Don Pueblo	Respond to of 34811

In case anyone missed it, there was an absolutely hysterical piece on CNBC this morning at around 7 a.m. They had a trader on the floor of the CBOE talking about the Dow move. The CNBC guy was grilling him on what he thought the market would do, then pressed him to disclose when he would "go short". Traders on the CBOE, as a general rule, are in and out in a matter of minutes. This guy was obviously long overnight on the Dow index, and would not be pinned down on when he would get out. He said that "anyone who is short is wrong right now." Which means the guys he bought his Dow contracts from yesterday afternoon were in trouble this morning. But an average person watching this could easily assume that the guy was talking "long term". Long term to a pro options trader usually means over the weekend. CNBC is grilling professional options traders for calls on market direction. Absolutley amazing.