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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (3129)	4/4/2005 3:18:13 PM
From: kodiak_bull	Respond to of 13449

DB, BEC is at the bottom of the LR channel; I wouldn't buy puts on it here, either. I'd look for a snap back up move to set up (as I noted with CRDN) a turn back down. The 3-5 day bar moves you are so fond of with the underlying can, with discipline and patience and with the trend, be excellent tools for entry into itm options. I wish I had chosen to play DHR this way, legging in on Thursday or Friday would have brought a sweet completion to a 55/50 spread today, I believe. I think FNM, having pierece 50 today will pull back and suck longs in ("Hammer! Hammer!"--ah, a little knowledge is a dangerous thing). My charts show it lacking a pulse, although I wouldn't be surprised to see it rally back to 53~54. I continue to hold my 60/55 put spread which at one point today was over $10 in the money. AIG is beginning to look more and more like a classic snap back up in a downtrend. Kb