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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (29695)11/28/1997 1:30:00 PM
From: Esteban  Read Replies (1) of 58727
 
Kevin,

Did the SPZ not confirm or am I misunderstanding your system? For SPX, your breakpoint was broken early and 2 resistance levels followed. I would have expected you to sell when #2 resistance was broken after lingering. This was my take from reading your post:

As I said earlier this week, I am still working on a strong exiting system.
Today I would only have exited in two ways:
#1 we drop below the neutral zone. Then I would switch to puts
#2 we broke through at least two resistance levels, then lingered, and then began to slide back down. A break below res #2 would have triggered a sell signal. Of course if we broke above #2 and stayed there the rest of the day, I would have held my possition because of the strength.

Just wondering why you haven't touched your long SPX or SPZ? position today.

Curious Esteban
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