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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Patrick Slevin who wrote (7659)	11/2/1998 1:02:00 PM
From: Tom Trader	Read Replies (2) of 44573

>>When expiration hits the OEX outperforms (or underperforms, depending on trend) the SPX<< I agree that at the point of expiration the co-relation can get skewed for either the reason that you cited or other factors. I guess what I am saying is that given there is resistance at the 1130 level which is about 11 points from where we are now, it cannot be straight up from this point on -- at some point we should see some kind of sell-off which is when I'd bail out of the calls because with the time erosion the premiums should lose value rapidly when the market corrects. I am hoping that it just does not blow past the 1130 level because then the next point of resistance is at the 1140 level -- and then who knows. If that happens, I'll just have to close the calls out and take a loss or something like that. BTW--I go flat the position trade at 1128 when it hits the 45 point profit target -- never thought it could happen today -- but now I am not so sure. This is turning out to be one of those days when everything works out -- and I hope I don't jinx it saying that -- but the bonds and the yen are also going my way very nicely.

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