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To: Brad Hill who wrote (27887)	11/5/1997 2:54:00 PM
From: Kevin	Read Replies (1) \| Respond to of 58727

>>> My inclination would be to take a larger position and get out faster.<<< Agreed. >>> Another question that interests me: how the day's closing numbers, in the context of your supp/res scenario, affect the next day's action. In other words, whether the day's supp/res numbers carry over to the next day. Example: if the SPX closing pierces a resistance level, should that be bullish the next day, if supported by the futures? <<< It should work that way but factors overseas screw that theory up on certain days making it inconsistent. Last Thursday night, I held my OEX puts because we were in a good bear trend. Initially, I was right....Globex futures were down 12-14 points. However, the Asian markets rebounded and the futures turned around and shot up approx 12 points early friday morning. One should either close their positions at the end of the day, or accept outside factors as a constant risk. Who would have held their calls if they knew the bottom would have fallen out of our market for almost 2 weeks? Nobody. It could happen again tonight, but many on this thread will hold their calls anyway and take the risk. I guess what I'm saying is that if my system continues to show a bullish signal into the close, I will hold my position overnight. I know I will take some losses because of this (like the $6950 loss Friday morning), but I think I'll make out well in the long run. Looks like we're going to attack 950 again. A break here would be great... Adios.