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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: OVETUS who wrote (24824)	4/1/1999 8:14:00 AM
From: Postman	Respond to of 50167

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To: OVETUS who wrote (24824)	4/1/1999 9:16:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Juan the target on AOL was raised before yesterday, I would think we will see 170-190 by the end of this April option period although it is not a bad idea to take in the profit and replace your calls with May 160's... I have done that I was long 100's got out of them and got in twice as much 130,135's and 140's for April.. I like to keep reaping profit from heavily in the monies and replace it by out of themoney calls. Opening -you are very right any stronger opening more often than not is a trap, we had a soft close last night they would like to close out people like me who are long puts on the opening and take the index right back to yesterday close, we need this RUT Composite and BKX to breakout from the resistance points of today which most likely are 400 and 855, I see DTX can today be a point of focus but preferably I wouldl ike NDX to take out this 2135 area before I get out of my long puts and short NDX.. for me I don't like to be trapped and whipsawed, I would rather wait or if the rally is really strong go long some futures to offset the premium loss of 1280, 1270 but 1270 will be definitely not removed even if we have 1330 taken out thee are their for insurance I have forgotten them, one day they may become handy if market over reacts to certain news. You see from my strategy that day in and out trading has more to do with a thinking trader than a 'fossilised mind stuck in time and space', S&P trading or market read is not at all about market will move up or down, no one can ever predict that it is reaching an opinion calculated how market will act at major supports and trendlines or resistances or event driven movements. If Serbia's sabre ratling comes to an end this market has a 750 point potential to move up, however in situation like this one needs to keep working on both side of the market. Like my 1228 support and the bounce and my filling of gap of 1262 or the top at 2535 on composite or prediction of hedge funds shorting at that level is not from a text book it is impulsive reading of what I would do with my positions. Anyone's read on the market is 'net sum total of his trading failures and successes', mark my words this is million $ advice, anyone's posts is the net results of his trading strategies, the more complicated and convulated the posts are the more I would think one is on a compulsive losing streak, for me I need to open my shop every day I chart my course and work accordingly. I would see if I was a part of move up, I don't dictate the market and keep myself out of it demanding that let the market come to me, look at these so-called 'bear' disasters of SI. See how many times they have called a bear market and how many ocasions they have played and missed, shorting is a job of big hearted people chicken don't short if you cannot go long in a clear market how would you have the heart ot short, the point is the it is all paper trading they never go long on a stock they are neither short, it is on SI to twist and dance is great and that is how I treat them absolute dismissivness, the bear dancers who are found rampant on SI. You don't let your cash gives eggs letting it wait for market to come to you, you need to take what market gives you, if market wants to go higher follow the trend cut yourselve below 1262 two closes and keep taking what market gives you, this is what is daily trading is all about, the people who are waiting for the market to come to them more often than not are not in positions when market falls as it always traps before it falls, strategists like me without offending market use out huge profits to place some insurance bets and that is what we do and play with... When I write my levels they are visited and hence this shows at 'Ideas' goes on, my levels are levels and my posts are posts which I can go back and look at in next 24 hours or next 6 months, some stocks like DDX was something I thought was bad call but most of the time I have been able to pick the right momentum. Unlike many posts which are unvisitable, mine are always with some logic and some reason. I don't become absolute you are gone if you become to sure and wait for market to come to you, opportunity loss is greatest loss of a good trader, you don't just let pass in front of you. The market likes humility viv a vis market like I am humble towards market, I consider my opinions to be subservient to market overall greater design and I try to follow my market sentiments and trends. I don't ever make this mistake to read the market from my narrow point, rather market encompasses wide range of possiblities and it will do what is looks for market the path of least resistance, one can always formulate a strategy which possibly is advisable in case of certain break but the fact remains that market is not chartable the closest you get is on in and out basis the reads we post here with pride, covering both side and being realist about our objectives. Like always I will be looking at RUt today 400 has to be taken out, I will like 2138 on NDX to be broken and if we break the old high of 2158 and stay above 2158 for two days we are on our way to my 1470 levels. If not we will break 1292 and test 1262 and that will coincide with 2015 area possibly, so just keep consentrating on BKX RUT DTX and DOT a break of DOT for all times below 550 is a danger sign if I am not available and DOT breaks go for a cover, it will translate into big weakness in composite a little later.. Love From a learner of ther market////