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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Rich1 who wrote (580)9/30/1999 12:07:00 AM
From: Ms. X   of 9427
 
You are doing exactly the right thing. You have determined that selling the position does not work for you so hedging is your best bet. You can sell the calls or buy the puts as long as the indicators are down AND the charts look week. While you are doing this though you must keep on top of the charts. If the indicators start to base and the stocks start to base consider the position again. If the indicators turn up watch the stock charts carefully.

One thing that may happen is their sector chart turns up before the indicators do. You have the primer stocks for the sectors and they may be making positive moves if the sector reverses up but the indicators are negative.

It is all a big picture and you have to take in consideration everything. I can't tell you exactly what scenario will present itself but if the indicators are negative and the sector is negative 10 to 1 the stock is having a really bad time of it.

Just keep watch. I think you have the right idea.

Jan I am
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