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Politics : Idea Of The Day
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To: ayahuasca who wrote (29844)11/26/1999 12:01:00 PM
From: IQBAL LATIF  Read Replies (3) of 50167
 
I will only go long 1380 SPZ puts if 1414 is taken out I will cover at 1398 andreestablish if 1392 is out.. so I never trade and buy puts until my supports are taken out. May be if we break on the upside this darn thing can shoot up from 1428 break and double close above it to 1475 area in no time.. so I try to keep a margin and i trade the options on the most liquid contract..QQQ I ahve not much experience to trade this particular proxy of NDX 100 but it looks that if we have set back here it may serve nicely although I like SPZ on these heights the best on long side and short side the ease to change direction of the trade due to liquidity and spread.. the decision to short should also now look at TXN CSCO IBM INTC.. I will not ignore break of TXN 100 CSCO 90 IBM 100 and INTC 78 that will indicate a reversal but right now we need to watch the SPZ and base our initial trade on that a little late but little more secure and little less chance of a whipsaw..
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