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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: jjstingray who wrote (38236)3/6/2002 5:18:29 PM
From: ajtj99  Read Replies (3) of 99280
 
jj, if we had turned back at NDX 1519 and dropped below NDX 1498 at the close today, I was planning on waiting for NDX 1454 to buy some calls.

I'm not waiting for a spring rally, as we are probably more than halfway through with it already. The only question is where will it end?

If you are long from last week, you can afford to wait and see. If you are establishing long positions right now, you need to employ tight stops, and ratchet them up as the price rises to lock in your profits.

As for options, I think right now the only safe way to play this market on new positions is to be properly hedged.

As for going short, that is the equivalent of catching falling knives right now.
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