P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: Jeffrey S. Lillie who wrote (27052)	1/30/2003 12:32:50 PM
From: ajtj99	Read Replies (1) of 30712

I'm looking at things and I see the possibility of a bunch of sideways goo into CSCO, so I'm not going to sit and watch the time premium on my Feb's erode. I do not believe they will let the Dow go lower than yesterday's low until after Feb. expiration. It's just too hard to get it back up again if it breaches 7900. The falling resistance line off the Dec and Jan highs is around 1081 or so (estimate, don't hold me to it) and will be near 1059 in a couple weeks. That's as good a place as any to end this bounce and dump into the end of February. However, we could drop all the way to NDX 930 or 950 prior to then. If we get 40-points under Max Pain, I'll buy. If we get 40-points above, I'll short. Otherwise, options may get killed here if you are not nimble.

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