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Strategies & Market Trends : Guidance and Visibility

AAPL 268.30

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12:43 PM EST

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To: SusieQ1065 who wrote (68370)	8/18/2002 2:33:27 PM
From: bbgold	Read Replies (1) of 208838

Sounds Good SusieQ, I had been Trying to stay all Cash through most of these swings but was sucked into some Puts on Thursday and Friday after looking at some of Schaeffer's reco's. Now I am wondering if he knows what he is talking about. I think that they are looking at any Weakness here to give us a retest of the Lows. Most of his recommendations come with projected targets of 100-200% profit. Right now most of them are Down almost 50%. I called a Schaeffer's rep and he said that they usually use 50% as a stop loss on their reco's. So far I have not seen any positions closed out so I decided to join in on some of the Puts that were Down from his reco. Not sure if I am doing the Right thing though and would be Much Happier being in Cash again. The markets Could get trapped in a trading range here between 8500 and 9000 for a while as those are the two Major Support and Resistance levels at this time. As far as Index Options are concerned it might be Best to watch for a confirmation of the move to one side or the other, maybe. For now I am one of the Bears who might be Stuck by continuing to be Bearish while the markets are being Bullish. This week should definitely be one to Watch. On the MKTSS board we use the Intraday 320SMA or the 5 day 100SMA as our indicators for Bullish or Bearish. Whenever the markets are Above these indicators we are Bullish unless the market is Too Far above. The same goes with being Bearish Below these SMAs, unless we are Too Far below, as on Wednesday. Right now we should be Bullish according to the indicators. Technically it would take a move Below 8700-8680 and finding Resistance there for us to be Bearish. To be Completely Bullish the market would need a move Above 8850 and Support there. We then would only have a short term trading range to resistance at 9000 but long term the move could go to 9500. BTW, I hope that by being in Cash you were able to lock in a profit on those Dec Puts? I ended up taking a partial Loss on my Aug Puts as they did not come back much on Wednesday from where I bought them, Ugh. Good Luck SusieQ! Sincerely, Bob :^)

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