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

To: Knighty Tin who wrote (53413)	3/25/1999 1:05:00 PM
From: BSGrinder	Read Replies (1) \| Respond to of 132070

Michael, Re buying puts on breakouts: Yes, I have observed that pattern from your posted purchases. But I have also observed that, given the mo-mo tenor of this market, the breakouts often continue to ramp past your buy-in point. PVN is a good example. CDWC is another. Once their upward progress stopped, it was a straight shot down. Why not wait til the momentum is broken and they start to come off their highs? They are still outrageously overvalued, with plenty of room to fall. I'm not trying to second-guess your successful strategy, just trying to get inside the philosophy. For myself, I have had better luck catching big drops in POS after they have stalled from a parabolic run, rather than figuring out exactly when their rocket will flame out. My biggest hits on Presstek and MU came well off their highs. But I am always willing to learn a better technique. Thanks, /Kit