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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (42717)	5/8/1998 12:49:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

I'm down to 4, I am waiting for some consolidation here and will probably double up to 8. I want more of a pullback however, low 1114 range. EDIT As long as it fits in with your overall strategy you should not have too many miscues. Your core position is long, so all you are doing here is re-affirming your posture for a quick hit. In my own opinion, it beats the doors off options.

To: Tom Trader who wrote (42717)	5/8/1998 12:59:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 58727

Not me???? Hey TT get this... You just mention a buy signal at 1116.00 on the S&P futures right??? well since i'm becoming an "expert"<g>.. on Point & Figure charting I just realized that Dorsey Tracks not only every stock, but EVERY INDEX... So I trotted over to the SPX for a looksee....hmmmmmm....:>} hey this chart looks like any other chart...meaning it trades just like a stock or index... Now what I would like to try and correlate is when you got your signal on the futures what was the SPX at that moment... All of Dorsey's numbers are end of day data.... So here we go.....last night the SPX closed at 1095...the P&F chart because of it;s size moves in 5 points per/box increments... In P&F charting any 3 box reversal in a stock or index ususally signals a trend reversal...hence, if it closed at 1095, and traded today at 1110, we infact do have a 3 box reversal...to the upside and consider it a buy till the next 3 box reversal DOWN!!!!!!!!! in other words, i could play the SPX as a position trade waiting for 3 boxes, letting the jiggles of 1 & 2 boxes not shake me out... Am I making any sense...????