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Strategies & Market Trends : Buying In the Money Options
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To: the options strategist who wrote (15)10/16/2000 5:56:48 PM
From: High Grader  Read Replies (1) of 21
 
If the price dropped to 19.125 it would signal that the EW count is incorrect, as I expect a wave four rally there should be no action below the last low for a while.
I would immediately exit and try to salvage the position if the price dropped through that level as it would say my EW count is wrong.

Otherwise, I would hope the targets at 24%, 38% or even 50% would be met and that would be where I would exit with a profit.
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