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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (27205)10/28/1997 11:22:00 AM
From: Tom Trader  Read Replies (1) of 58727
 
>>Tom, if you have time can you tell me where you would go long the SPZ & the SPX?<<

Kevin, my system CANNOT generate a buy signal before first generating a sell signal. This is because the momentum during the recent move down was so great that I need another sell signal before I can go long again.

From a practical stand-point the way this works is that when I get the next buy signal, I will ignore it and then take the next sell signal. The next buy signal--which I will ignore-- on the S&P futures would be about 50 point over yesterday's close. I have some misgivings about this number because it was based on yesterday's action and that was based on a locked limit move--and my system was never tested based on such an event.

Unless youa re looking at some nimble day trading, I think the way to trade this market--for now--is on the short side, both on the futures and the index options.

Hope this helps
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