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Guy,
Congratulations on your ANAD trade. I may have jumped the gun a little
this morning on my Bear Sterns position by selling covered calls against it,
but it looked like it was pulling away from the top of the channel at the
time. It reversed midday and went back to the top of the channel. It may
still prove out to be a good move, but I won't complain either way considering
what the rest of my portfolio did <G>. I revised my ASND Raff Regression
Short Term Up Trend Channel using today's close as the last entry. With that
revision the top of the chart and my new target is now a little over 57. I
won't close the position, but will sell covered calls for insurance at 57.
I'll probably go with the June 55 calls. My stop has moved up to 48 3/4 which
guarantees almost a 20% profit.
-----Original Message-----
From: Guy Gordon
Sent: Monday, May 05, 1997 3:37 PM
To: Jim Greening
Cc: MetaStock-List@xxxxxxxxxxxxx
Subject: Re: ASND
What a day! ASND hit $53 1/2 intraday. Are you still looking for
$54-55?
I didn't pull the trigger at $53. The market looks so strong I just
couldn't. (I may live to regret it.)
The fast Stochastic tipped over today (Stoch(5,3,3)). That's my first
short term sell signal. But I haven't seen anything to confirm it.
On the other hand, I did sell my ANAD today at 33 1/2. I believe I
got the high price of the day. If you draw a resistance line thru
the highs of 1/31 and 4/7, you get exactly my target price.
The support line goes thru the lows of 2/28 and 4/21. I bought at $24
on 4/21, just above the low. That gives me a gain of 40% in 10 days
:-). As good a channel trade as I ever made.
On Sun, 4 May 97 01:26:08 UT, you wrote:
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