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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: bcrafty who wrote (78194)	8/1/2003 1:34:11 PM
From: yard_man	Respond to of 209892

I choose stops on shorts and longs on an individual basis --I am usually less tolerant of risk on shorts. If a stock is very volatile and I feel convinced I am right -- I'll take a wider loss before I am wrong -- sometimes even 10 pts on a high-priced stock. For the most liquid big cap issues, I'll use tighter stops. But recently, I've been using puts -- so I don't buy more than I can afford to lose and expect to be wrong at least 2 out of 3 times -- small bets -- not really a stop -- just a method in lieu of stops. If I get close to expiry and I've been wrong, I may try to get some money out of put or call position, but most often not. Right now I have a little more in DJX puts than I would feel comfortable losing -- so I'd probably cut some on a pullback if we moved up a bit from here ...