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Strategies & Market Trends : Waiting for the big Kahuna

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To: Lee Lichterman III who wrote (43512)9/18/1999 8:17:00 AM
From: Jack of All Trades  Read Replies (2) of 94695
 
Lee,

I have OEX 710 as first resistance and 717 as second. My plan is to average into puts at these pts. Putting limit to buy 25% position @710 and if we get to 715-717 area adding 50% position. If 710 holds I will put 75% in when we break fridays low.

The resistance line 717 is from highs 7/19 + 8/26 and the 710 is from 8/26 high to 9/10 high.

Support is yesterdays low and 679 which I have drawn from close 3/3 and low of 8/11.

I would agree on your 1 to 3 days senario.

Jeff
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