Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 174.01

+1.8%

3:59 PM EST

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To: Nicole Bourgault who wrote (45352)	8/1/2001 12:03:42 AM
From: ajtj99	Read Replies (1) of 56535

Nicole, I've got my GTC sell order for my QQQ Aug. 42 puts at $3.60 now. If we do not get to 39 by Friday on the QQQ, I may change that to $3.40 to account for time value erosion into Monday. A lot depends on how we handle the 1936-1940 area if and when we reach that range. I believe we may hit 38 on the QQQ, but I'm more comfortable with 39 as a more likely possibility. 39 is about 1560 on the NDX, and about 1900 COMPX. If we break through 1934, the next Fib re-trace is 1890 COMPX. That should provide some support, and we may bounce from there. Even though 1520 NDX is possible (38 QQQ), I'm not going to try to squeeze every last dollar out of this position. Good luck!

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