I saw in your newsletter . . . mention of watching QQQ . . . for a play. Do you have a particular method for playing this or OEX (S&P options)?

We play the QQQ and OEX options just as we play options on a stock. These are traded on the American Exchange just as a stock is. The QQQ has options for each dollar strike. The QQQ tracks the Nasdaq 100. We look for patterns or trends in the market to enter plays. Today was a good day for puts as the weak rally fizzled and the QQQ rolled over. These are nice ways to play the market as they are not impacted as significantly by downgrades or upgrades of a particular stock. You don’t have as much likelihood of waking up to an analyst report that takes aim at your stock.