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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (29774)12/1/1997 12:37:00 PM
From: Kevin  Read Replies (2) of 58727
 
>>>I suppose what is confusing me is the 1 1/2 point spread in the Sp7z range...so you add another 1/2 point to that? but in which direction? and what end of the range <<<

I assume what you're asking is how would I enter a trade at this level.
First of all, I almost always enter my trades when the indices break out of the neutral zone. I don't like to enter trades once we are moving through my res & supp levels, because it is chasing the market. I prefer to wait for the next break from the neutral zone (less risky).
However, if one was to use this range as a place to buy calls IF the rnage was broken, my method would be to wait until the top of the range is broken by .50 points. I do not recommending anyone to use this as a buy signal at this level. The SPX is already up 14.50 points and there is no guarentee that the market will move higher if this resistance area is broken.

>>>would that not be a buy signal if you weren't already in calls...?<<<
No. See above.

>>>This is the first time I have seen you use a range for something that would constitute a buy signal.<<<
This is not a buy signal. This is a range of resistance.

>>>SO I am asking why you have started using these "ranges" as of today<<<
It's not as of today. It was only recently that I have tried to explain my system in more detail. Since I began doing that, this is the first time the extra data came into play.

I am trying to account for any spot that might / could / should provide resistance and support during the day. I even look at various moving averages and assume that they coud possibly affect the price action.

>>>I did not say I was still in my puts...I said I am fine with my position<<<
You didn't say you were out of them either. No matter...my mistake.

Good luck.
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