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Strategies & Market Trends : Tech Stock Options
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To: joe smith who wrote (44719)6/4/1998 7:54:00 AM
From: Patrick Slevin  Read Replies (1) of 58727
 
By not getting long and selling on breaks I mean that a break can be rapid and profitable.

The futures hit an intraday low yesterday of 1091 at 3:30 ET after trading virtually all day in the mid to high 90s. The clue that it was starting to break was apparent about an hour or so before as it was failing, albeit gradually.

Once it started rolling, however, it accelerated....between 3:30 and 3:40 it dropped to 1083

That's the kind of break you don't want to miss, that's all I mean. I think those breaks are more likely at this point in time than upside rallies.

As far as letting your short positions run, it's just a question of catching a move like that.....once you have a cushion it's relatively painless to watch intraday swings of a few points.....
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