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Strategies & Market Trends : Selling Puts: Have Cash Will Travel
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To: taxman who wrote (1065)1/26/2000 8:59:00 PM
From: OX  Read Replies (1) of 1235
 
i don't know, they're not my puts.

but I know that this time of year is weak for box makers; including
today normal hour trading, DELL gave third in a series of consecutive
sell signals on a PNF chart; and if tmo it prints 37, will be a
spread triple bottom. If I were long, I might give it room till
36. On the reverse side, I'd like to see above it 200dma (~42).
So you might use that as a pivot point for your puts... it's all
depends on how you want to trade it.

on PNF charts, there's a downtrend line (Bearish Resistance Line)
which is a wall at 46... but I doubt you would want to give your
puts that much room. The good news for shorts is that this line
moves down with each reversal in the charts... but in PNF speak,
until the BRL is taken out, it's in a downtrend.

here's a little of what the chart looks like...

55 ------+------------------
54 *
53 X *
52 X O *
51 X O *
50 ------X 1 X --* ---------
49 X O X O *
48 X O X O *
47 X O O *
46 X O X *
45 X X ----O X O --
44 O X O X O X O X
43 O X O X * O X O X O
42 C O X * O O X O
41 * O * O O
40 * --* | -----------------
39 |
38 |
37 |
36 |
35 ------| -----------------
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