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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: velociraptor_ who wrote (11613)	3/13/2001 3:59:54 PM
From: Rambi	Read Replies (1) \| Respond to of 37746

I really screwed up today, not selling when I could have with a three point profit. They're much lower now-- and I admit I;m plenty upset. However, the SPX did not break 1200. THough it's sure sitting right there.... I am concerned that people will see this rally tonight and start buying. Why would that not happen?

To: velociraptor_ who wrote (11613)	3/13/2001 5:12:59 PM
From: Rambi	Read Replies (1) \| Respond to of 37746

Velo- Reading the comments after hours, listening to CNBC, all seem very upbeat and seem to think that things have turned around. THere are some "shorts running for cover" comments. Since I am now the proud owner of many SPX 1100s, I am concerned over this. (I am trying to stay calm and rational although my bleeding nails and twitching eyelid may belie that) What are the possibilities that a breaking of that 1200 tomorrow morning would change the prediction of further downside? Is this something that commonly happens or is the fact that it didn't break through today a fairly reliable indicator? Would you likely sell your puts for what you can get, buying back if you later thought the SPX would fall, if the SPX went through 1200 strongly? Can the timeframe be off, but the charts still ultimately rule? I have been so impressed with the calls of this past week, but don't want to rely on them to the point of being unthinking. Thank you so much for your time and patience with a new trader. I apologize for my constant tugging at your coattails. penni