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Strategies & Market Trends : Just Like Starting Over

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To: ayahuasca who started this subject	3/13/2002 1:55:45 PM
From: ayahuasca	of 23

Well, I was too early on CHKP...could have bought the calls much cheaper today. Oh well, my plan still holds and I think CHKP will approach and/or hit 40's before April expiration. GNSS has finally decided to shed some here, but the calls I am holding are still above my buy price. Could have sold them for $5 yesterday and re-entered, but I decided to hold them. Calls now trading at $3.60 or so. Bought more April 5 AETH calls earlier when stock dipped to $4.90. Interesting to note that the tone of today's market was heavily influenced by one slightly weaker than expected retail sales report. That tells me that while there is strength in this market at the moment, the conviction is not too strong. It's dangerous out there now, and I am playing the MOST dangerous variation of the game, but I am still confident in a near term Nas rally taking us over 2000. I expected either low 1870's or, failing that, the 1850's as an inflection point. We have been holding on to the 1870's by our fingernails, and I expect that to break and the Nas to go to the 1850's before day's end. If it closes there I think 1830 could be seen early tomorrow morning, but that should be the near term bottom. That's how I am playing it anyway.

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