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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (14260)2/19/1999 4:23:00 PM
From: james ball  Read Replies (2) of 34811
 
Yes the market was typical expiration day. I watched my KO Feb 65 calls I shorted for $4 3-8 only a few weeks ago fizzle to nothing and by the end of the day I had to buy them back for 3-4. Good money anyway. I'll sell the Aprils on Monday. Many stocks were rivited to the strike price. You could see by the market action toward the end of the day how it was pushed and pulled by mathematics and nothing else. Just X out yesterday and today. Actually the whole week for that matter. Short term indicators very oversold and sentiment still very high. Again Dow up advance decline down. The AD line is now at Oct. lows. If we break those we go lower. Maybe the Dow Jones will hold up but reality is Mr. Jones will see a lower portfolio at month end and that is reality. Tom
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