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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (70184)	4/2/2003 11:19:35 AM
From: Clappy	Read Replies (2) of 209892

BC, But what is it that you see in the charts that made you sell now rather than at some other time? I sold half because my calls were up 65% and I was not certain if this was just a morning pump. (Futures were ramped.) Besides they are April expirations and I have a bad habit of letting them wait too long. I saw some resistance and took some profit. This allows me now to watch the action without an ounce of worry. Good traders shouldn't need to do that, but then again I'm not a good trader yet. <g><ng> The easy money is made. So now I can sit back and enjoy the ride and not sweat out the volatility of this (possible) final leg up (the hard money). Wish I had a better answer for you with some Elliott logic attached. Anyhow, I force myself to take a bit of profit when ever I have a good guess like this one. <g> I have targets along the way as they are reached I reward myself with some profit taking. Next reward comes at 8520ish. If it breaks down I'll be out probably in the 8240s.

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