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Strategies & Market Trends : The Home Run -- Ignore unavailable to you. Want to Upgrade?

To: gold 77 who wrote (465)	11/2/2006 4:18:11 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 525

Well. Hard to say. I added around 606, 614, and started doubling up my adds this morning in the low 620s somewhere. I sold off half the position I bought this morning at 628. My rationale is that the next resistance is between 630 and 634. So I figured that I could add double positions, sell off half of them as it approached 630....providing it did so....and buy the retrace and do it again. At the moment I think the larger range is 612, 614 to 630. The shorter range is 618, 619 to 630, 634. So I'm trying to add 619 to 623 and sell part of the add as it approaches 630. I think it should take a bit of work to get through 630, 634. But I'm trying to protect my upside by selling only half of what I pick up in the low 620s. My average cost for the remaining contracts is moving a bit higher but it's still just over 600. By the way, I've moved my Stop to around 600. ------------ That's pretty much what I'm doing. Hope it helps in some way.