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Strategies & Market Trends : Just Like Starting Over

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To: ayahuasca who wrote (4)	3/6/2002 2:17:08 PM
From: ayahuasca	Read Replies (2) of 23

continuing the higher risk attack for now... bought CHKP March 30 calls @ $3.50. Reasons: strong chart, stock is trending up. stock down today on profit taking- could go down to the 31's if Nas turns down hard- and this presented an opportunity to get in without chasing. immediate stock direction dependent on Nas. I expect Nas to approach 2000 before March expiration. If that happens, CHKP could go to the high 30's/low 40's. Finally, they are in a good business right now and I dont expect any bombshells that could unexpectedly sink the stock. Plan: Will sell out of these if CHKP breaks 31.75 on the downside...otherwise, I am looking for 35 first and will sell the calls on failure to break through 35.50. If it get's over 36 I'll let it run to 40 and plan to sell the calls around $10 if that happens.

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