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Ben is right about the divergence which should have been, may still be a
positive for equities. There are also some sentiment measures that are
getting to the extreme bullish levels. CBOE Total P/C is at levels seen
last April. Hines Ratio modified HHBVS is at the call alert zone and put
volume is just about as extreme. Made three .gif attachments to see if
egroups can handle the bytes.
BobR
----- Original Message -----
From: <proffittak@xxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Tuesday, October 10, 2000 6:38 AM
Subject: [RT] learn from my losing trade/sp500 nd outlook
> In a message dated 10/10/00 8:37:16 AM Eastern Daylight Time, Proffittak
> writes:
>
> << Hello
>
> the reason for this post is to share a losing trade so that YOU would
not
> make the same mistake i did.
> about 10 days ago i went long 1 sp500 at 1470
> and bought the 1460 Oct put at 27
> the reason for going long was that the health index (frequently post
by
> bob r)
> made a new hi
> and if you remember i posted at that time to the list that i expect
market
> to go to a new hi
> when price kept going lower i stuck to the position because in the past
> 4 years it took no longer then 5-10 buss days before it materilized
> HOWEVER
> in bear markets (which we officially in) indicators seem to leg by
as
> long as
> 1-2 month
> so yesterday i close the position with a 50 points loss
> and recover from the put only 21points
> the lesson
> A: puts should be bought at 5 points from buying price for a long
position
> trade
> B: if 5 days goes by and you are wrong get out
> c: when future drops more then 30 points put is not moving up in
price
> that good
> d: would have been better off buying 2 puts of the 1450put
>
> as for mkt. outlook
> short term we have a bullish div on MCcllulen osc
> and vol. accumulation is increasing
> top should be in spz00@xxxxxxx
> UNLESS we have today at least 3/1 up vol. /down vol.
> ndz00 has a better top for this move@xxxx
> (if up vol. /down vol. 3/1)
> happy trading
> Ben
> >>
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
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