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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: John Pitera who wrote (33738)	9/15/1999 11:47:00 AM
From: SE	Read Replies (3) of 44573

John, Got a question from another contest participant regarding this order. "sell 12 @ 59.50 to open ////edit sell 12 @ 60.50 now sq" It appeared that what you meant to do was to buy 12 to go flat....that is after all what the "now sq" means. Then Hal asked if you were short 24, at which point you said you would have to void the other 9 as you could not trade 24 short. It appears to me quite clearly your intention was to go flat and take the 1 point hit. Your response to Hal appears to be, the market moved in my favor so I will take the trade as I typed it.... Had the market continued North, would you have responded in the same way or stated that you were flat? Just something to think about...... For the contest, you typed that you wanted to sell 12 at 60.50. Since you could not do another 12 but only could do 3, I will allow 3 more short at that point....after all that was your order. -scott PS - Seems to be a rash of typo type problems today. I am sticking with my 57.50 sell cause it is the only rational thing I can do. If it had been a real order, I would have been filled and stuck....so same thing here.

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