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Strategies & Market Trends : Tech Stock Options
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To: j g cordes who wrote (32468)1/8/1998 12:04:00 PM
From: donald sew  Read Replies (3) of 58727
 
Jim and others.

To help with exit skills, which is one of my weaknesses, who like to discuss what made me exit my OSX calls at a small loss rather than hold them. Such discussion may help others also.

When I made the decision to exit I was thinking of the following:

1) I had already noticed the strength in the NASDAQ which indicated that NAZ may pull the DOW up and that the DOW may close off its bottom. At that time the OSX and Dow was moving together, so the DOW was a fair barometer at the time.

2) I had Feb calls therefore still had plenty of time

3) If the NAZ weakened at that time, the liklihood is that the overall market would also decline further and may become dramatic.

4) The OSX has a strong support line at 99-100, and my entry point yesterday was about 100.75.

5) The OSX was downgraded again

6) The loss would be about 11%.

Now my question is would one have sold or held? Maybe a discussion on this may make others better on their exit skills.

I still do not know if I made the right or wrong decision since the option price is still about the same.

After writing everything down that was going thru my head at the time I made the decision, it is very obvious that exiting, especially while losing is much more difficult than initiating a position.

Hope there are some comments.
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