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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: drsvelte who wrote (26690)	9/22/1999 1:50:00 PM
From: Haim R. Branisteanu	Respond to of 99985

It was expected, I posted it yesterday with the computer scan. I just closed puts I wrote this morning. Haim

To: drsvelte who wrote (26690)	9/22/1999 1:54:00 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 99985

QQQ TA, and puts vs. shorts: Since 8/5, qqq has been in a 122-127.5 trading range. Today, we've already tested both ends of that range. Before 8/5, 122 was a resistance level, which got tested a couple of times before qqq broke above it. If we close below 122, it's a good gamble that qqq will reach next support at 111. Below that, support at 100. If I were shorting qqq, I'd sell the shorts to cut my losses if qqq closes above 127.5. Since I'm using puts, I'll hold them, and buy more puts with each 5% move above 127.5. Or maybe I'll wait till a new, higher short-term trading range is established. With puts, I can't take advantage of price movements of less than 10%. Anything less than that, the spread eats up my gains. With more than a 10% move (down, hopefully), the leverage of puts helps me.