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Technology Stocks : H L Camp buy/sell signals

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To: d. alexander who wrote (13)	9/21/1998 6:50:00 PM
From: Patrick Slevin	Read Replies (1) of 22

My bias is still toward lower prices but trading the futures as opposed to options or stocks I generally look for trades in either direction. Sometimes during the same day, even the same hour. I think the way to describe it is as a more fluid environment. Reversing an options trade, for example, requires you exit the call and enter a put...paying premium as you go. It's not easy to quickly decipher where the value is considering the volatility inherent in the instrument. Reversing a position in futures, on the other hand, is a one step affair. If you are long a futures position you reverse simply by selling twice as many contracts as you are long and, voila, you are now short with one trade. Today just seemed to have the potential for the market to close the huge gap...had I been here I would have played it. I don't like to leave a position on when I'm not available though. But tomorrow, at this point, I would be looking to do the opposite. I would love a gap up open to sell into but at this point in time I believe I shall be a seller early in the morning, perhaps at 10...maybe 11....Eastern Time. Of course, trading futures isn't for everyone. It can be a white knuckle experience now and then.

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