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Politics : Idea Of The Day
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To: Skywatcher who wrote (29762)11/18/1999 5:27:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
I am sorry, I was not clear, I will try my best to explain, the post refers to clearing my positions and only ret-entering if I have a double close above that 1428 level.. the second thing refers to range trading that I expect. I think that ths rocket like movement is too risky for me as year end approaches and hence I would not like to risk my profits, it is nice to take profits no one ever goes bust realising the profits and wait of re-entry. Purely a trading stance after a solid run.. Hope you get it..

I had ORCL what I have done is to sell ORCL at around 70'ish and will replace it with 75 calls or CMGI 100's replaced by 135's..same with LRCX LSI ATML it is better to get out of the monies so as avoid huge volatility in the account. Booking profits and trading are two important ingredients of my strategy. This is the best strategy for option player like me.. I will also heavily rely on indexes instead of individual stocks like SOX or PSE or NDX..AT the top of the markets easier to get in and out in indexes ofcourse individual stocks like HWP AMAT will have my attention as they make new breaks up or down. I want to be a part of the up move but without too much on the table..

On that 20%.. thing. Let me explain you suppose of 10000 $ I will at one given time use 25% of that in long call options say I buy Dec 75's for Orcl for say 4$, I will end up with 6 calls, my leverage based on last night closing price of ORCL will be 4 times my total account, 600 multiplied by 71 nearly 43000$ so with 2500$ I am holding 43000 worth of stock if ORCL ends up at 100 my calls will be worth 25$ or 85 10 $, in case it drops I lose only 2500$ orginally spent but I am in the game with little exposure realising most of the move in cash as I am already out of the ORCL at 70ish.... can enter again at test of 1242..gg

So one is in it and out of it at the same time, this is what I do regularly and have found to be very helpful/ This 1780 was the itme many of the bears entered the market after that test of 1000 on NDX on Oct 8th that was the time I was getting out of my calls I had purchased at the dip and replacing htem by new calls.. My thread is like a history and sometime when I refer to incidents as they are fresh in my mind like yesterday people get kind of confused, ..
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