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Strategies & Market Trends : The Player's Club -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (2799)	12/15/1999 5:19:00 AM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 11513

You're right... that chart of the 21 dma of the Arms index is a dramatic illustration of how over bought these markets really are... we're still just at the lower range of a trading range here, and since this is a contest and a game I'm just going for the gusto to the max.. but it's beginning to appear more and more that the markets are running out of steam... I agree, we easily could see a slide of sizable proportions in equities now, especially since the bonds are moving lower... these markets are going to take it on the chin... I'm sure this will please Greenspan... selling at the money calls would be an ideal way to protect any long positions until the lower end of the range is violated, the March 1430 calls sold for 60 points yesterday, but unfortunately this contest doesn't allow for more complex strategies.....<g> GZ